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23 August 2017
 |
| South korea stock markets (The Total Investment & Insurance Solutions) |
Global stock markets edged lower Wednesday as investors treaded
carefully ahead of an annual gathering of central bankers. The Total Investment & Insurance
Solutions
KEEPING SCORE: In Europe, the FTSE 100 index
of leading British shares was down 0.1 percent at 7,374 while Germany's DAX
fell 0.3 percent to 12,192. The CAC 40 in France was 0.2 percent lower at
5,122. U.S. stocks were poised for a soft opening with Dow futures and the
broader S&P 500 futures down 0.3 percent.
CENTRAL BANKERS: Federal Reserve Chair Janet
Yellen and European Central Bank President Mario Draghi are among the central
bankers due to speak at the symposium in Jackson Hole, Wyoming, this week. With
little market-moving news on the calendar, investors will be keen on their
speeches scheduled on Friday. The Federal Reserve is raising interest rates and
is preparing to pare back the $4.5 trillion it holds on its balance sheet, and
investors are wondering when the European Central Bank will follow suit.
ANALYST TAKE: "It's been a slow start to
trading on Wednesday, much in keeping with the rest of the week so far, as
traders wait in anticipation of the Jackson Hole Symposium which takes place
over the next few days," said Craig Erlam, senior market analyst at OANDA. The Total Investment & Insurance
Solutions
EUROPE ECONOMY: A closely watched survey from
financial information company IHS Markit indicated that the economic recovery
across the 19-country eurozone remained solid. Its main purchasing managers
index, a broad gauge of economic activity, rose slightly to 55.8 in August from
55.7 in the previous month, better than expectations for a modest decline. The
index is pointing to a second successive quarter of quarterly growth of 0.6
percent. Though the euro rallied after the figures, trading 0.3 percent higher
at $1.1787, most market participants think Draghi will be cautious in his
remarks Friday. The Total Investment
& Insurance Solutions
ASIA'S DAY: Asian stock markets eked out
small gains. Japan's Nikkei 225 gained 0.3 percent to 19,434.64 and South
Korea's Kospi added 0.1 percent to 2,366.40. But the Shanghai Composite Index
edged down 0.1 percent to 3,287.70. Hong Kong's Hang Seng index was closed due
to a typhoon.
OIL: Benchmark U.S. crude lost 2 cents to
$47.67 per barrel in electronic trading on the New York Mercantile Exchange
while Brent crude, the international standard, slipped 35 cents to $51.53 per
barrel in London.The Total Investment
& Insurance Solutions 
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