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1 June 2017
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Global Stocks (The Total Investment & Insurance
Solutions)
Global stock markets were mostly higher Thursday following Wall Street's
decline while Chinese stocks fell after a survey showed manufacturing activity
weakening.
KEEPING SCORE: France's CAC-40 gained 0.5
percent to 5,308.60 and Germany's DAX advanced 0.4 percent to 12,660.42.
London's FTSE 100 retreated 0.3 percent to 7,543.86. On Wednesday, the DAX
gained 0.1 percent while the FTSE 100 shed 0.1 percent and the CAC-40 lost 0.4
percent. On Wall Street, futures for the Dow Jones industrial average and
Standard & Poor's 500 index were up just under 0.1 percent. The Total Investment & Insurance
Solutions
ASIA'S DAY: The Shanghai Composite Index lost
0.5 percent to 3,102.62 while Tokyo's Nikkei 225 advanced 1.1 percent to
19,860.03. Hong Kong's Hang Seng rose 0.5 percent to 25,779.34 and Sydney's
S&P-ASX 200 added 0.2 percent to 5,738.10. South Korea's Kospi shed 0.1
percent to 2,344.61 and India's Sensex was unchanged at 31,155.89. Benchmarks
in New Zealand, Taiwan and Singapore rose while Bangkok retreated. The Total Investment & Insurance
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WALL STREET: U.S. stocks fell on a sharp drop
for banks and a rare loss for tech companies. That offset gains for drug makers
and consumer-focused companies. Banks fell after executives from JPMorgan Chase
and Bank of America said their trading businesses are having a rough second
quarter. Energy companies fell with oil prices. Investors picked
consumer-focused companies, drug makers and high-dividend utilities and
household goods companies. The S&P 500 lost less than 0.1 percent to 2,411.80.
The Dow dropped 0.1 percent to 21,008.65.
CHINESE MANUFACTURING: The Chinese business
magazine Caixin said its purchasing managers' index declined for a third month,
falling to 49.6 from April's 50.3 on a 100-point scale on which numbers below
50 show activity contracting. That came after a separate PMI on Wednesday by
the National Bureau of Statistics and an industry group, the China Federation
of Logistics and Purchasing, improved to 54.5 from 54. The Total Investment & Insurance Solutions
ANALYST'S TAKE: "Today's PMI reading
points to growth having slowed more rapidly last month than the official PMI
initially suggested," said Julian Evans-Pritchard of Capital Economics in
a report. Reasons for the conflicting readings were unclear, but one
possibility is that Caixin's survey includes more small or private companies
than the official measure. "The latest data are still consistent with our
broader outlook on the Chinese economy," said Evans-Pritchard. "We
have long been warning that the rebound in growth during the second half of last
year would prove short-lived."
TRUMP AND CLIMATE: President Donald Trump was
preparing to announce whether he will pull the United States out of the
195-nation Paris agreement to combat global warming by reducing carbon
emissions. U.S. allies around the world sounded alarms about the likely
consequences of an American withdrawal. On Twitter, Trump said he still was
listening to "a lot of people both ways." Abandoning the pact would
isolate the U.S. from allies who spent years negotiating the 2015 agreement.
KOREA TRADE: May exports rose 13.4 percent
over a year earlier but growth decelerated from April. Exports are forecast to
maintain relatively robust growth this year, possibly helped by the release of
a new Samsung smartphone model. But they also face potential risks from rising
pressure in the United States and Europe for restrictions on imports, as well
as possible slowing Chinese growth.
INDIAN MANUFACTURING: A survey showed Indian
manufacturing activity grew in May but more slowly than April. A purchasing
managers' index declined to 51.6 from April's six-month high of 52.5 on a
100-point scale on which numbers above 50 show activity expanding. The measures
for output and new orders declined but stayed well above 50. The Total Investment & Insurance
Solutions
ENERGY: Benchmark U.S. oil gained 48 cents to
$48.80 per barrel in electronic trading on the New York Mercantile Exchange.
The contract plunged $1.34 on Wednesday to close at $48.32. Brent crude, used
to price international oils, advanced 45 cents to $51.21 in London. It dropped
$1.48 the previous session.
CURRENCY: The dollar gained to 110.95 yen
from Wednesday's 110.76. The euro edged down to $1.1246 from $1.1247.The Total Investment & Insurance
Solutions
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