World shares mixed after Wall St pull-back, weak China data | iNFOnews | Thompson-Okanagan's News Source
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World shares mixed after Wall St pull-back, weak China data

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Oct. 31, 2017. Shares meandered Tuesday in Asia after markets retreated from their record highs overnight and China reported weak manufacturing data. (AP Photo/Eugene Hoshiko)
Original Publication Date October 30, 2017 - 8:31 AM

TOKYO - Global shares were mixed Tuesday, with European benchmarks marking gains in early trading after a lacklustre session in Asia.

KEEPING SCORE: The CAC 40 of France edged up less than 0.1 per cent to 5,495.72 while Britain's FTSE 100 added 0.4 per cent to 7,510.77. Germany's markets were closed for a public holiday. Dow futures gained 0.1 per cent to 23,317.00 and S&P 500 futures were up 0.2 per cent to 2,572.10, pointing to an upbeat start to Halloween on Wall Street.

CENTRAL BANK WATCH: The Bank of England is set to raise interest rates for the first time in a decade on Thursday to help keep a lid on inflation. That could hurt the British economy while it is struggling with the uncertainties of Brexit. Meanwhile, investors expect President Donald Trump to announce his choice to next head the U.S. Federal Reserve within days, a decision that could have far-ranging effects on the markets. The Fed is due to start a two-day meeting on Tuesday. It's expected to raise rates at its next meeting in December, which would be the third increase of the year.

BANK OF JAPAN: The Bank of Japan wrapped up a policy meeting Tuesday with no changes to its ultra-lax stimulus program. It slightly raised its forecast for growth in this fiscal year but cut its outlook for inflation to 0.8 per cent from an earlier forecast of 1.1 per cent, saying that while the economy is gaining momentum, growth is not yet pushing wages higher or boosting consumer demand enough to fuel inflation.

EARNINGS: This week will see more than 100 companies in the S&P 500 index report their earnings results for July through September. In Asia, Samsung Electronics Co. reported another record high in quarterly earnings on a breathtaking run for a company that is fighting to get its leader out of jail. The South Korean company's July-September net income surged 150 per cent to 11 trillion won ($9.8 billion), compared with 4.4 trillion won a year earlier.

CHINA MANUFACTURING: An official survey said Chinese manufacturing activity expanded in October at a slower pace than the previous month as output weakened. The purchasing managers' index released Tuesday fell to 51.6 from 52.4 in September. The index is based on a 100-point index where 50 divides expansion from contraction. The surveys are closely watched leading indicators for China's economy, the world's second biggest.

ASIA'S DAY: Japan's Nikkei 225 index was flat at 22,011.61 while the Hang Seng in Hong Kong lost 0.3 per cent to 28,245.54. The Shanghai Composite index regained lost ground to close 0.1 per cent higher at 3,393.34. South Korea's Kospi advanced 0.9 per cent to 2,523.43 after Samsung reported record profits. The S&P ASX 200 in Australia slipped 0.2 per cent to 5,909.00. Shares in Taiwan rose and markets in Southeast Asia were mixed.

ENERGY: Benchmark U.S. crude oil lost 14 cents to $54.02 a barrel in electronic trading on the New York Mercantile Exchange. It rose 25 cents to settle at $54.15 per barrel on Monday. Brent crude, the international standard, lost 19 cents to $60.40.

CURRENCIES: The dollar strengthened 113.25 Japanese yen from 113.18 yen late Monday. The euro slipped to $1.1638 from $1.1650 and the British pound rose to $1.3209 from $1.3208.

News from © The Associated Press, 2017
The Associated Press

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