Contact Your Financial Adviser Money Making MC
14 September 2017
 |
| South Korea financial markets (The Total Investment & Insurance Solutions) |
Global stocks mostly fell on Thursday after Britain's central bank
signaled it could consider raising interest rates in coming months and data
showed retail sales and industrial output slowing in China.
KEEPING SCORE: Britain's FTSE 100 fell 0.7
percent to 7,328 while France's CAC was flat at 5,219. Germany's DAX fell 0.3
percent to 12,522. Futures augured a tepid start on Wall Street. S&P
Futures lost almost 0.1 percent while Dow futures were flat. The Total Investment & Insurance
Solutions
UK DILEMMA: The Bank of England kept its key
interest rate at a record low of 0.25 percent but signaled that it was
uncomfortable with the current high inflation and said rates could rise earlier
than markets expect. That pushed the pound up 1 percent on the day, to $1.3336,
which in turned weighed on the FTSE 100, as it reduces the overseas earnings of
the many multinationals listed on the index. The British central bank is in a
dilemma as the high inflation would warrant higher rates, but the weaker economy
and slow wage growth suggests it should hold off doing so. The Total Investment & Insurance
Solutions
ANALYST TAKE: "We continue to think that
GDP growth and domestically-generated inflation will be too weak for the (Bank
of England) to raise rates over the next year, but it's clear now that it would
not take much of an improvement in either to spark the (bank) into
action," said Samuel Tombs, of Pantheon Macroeconomics in London. The Total Investment & Insurance
Solutions
CHINA: Earlier, China's National Bureau of
Statistics said the world's second-largest economy saw 6 percent annual growth
in its industrial output in August, slower than 6.4 percent growth in July.
Retail sales expanded 10.1 percent on year in August, compared with 10.4
percent in July, it said. The figures missed expectations and suggested that
China's economy continued to cool.
ASIA'S DAY: Japan's Nikkei 225 fell 0.3
percent to 19,807.44. China's Shanghai Composite Index lost 0.4 percent to
3,371.43, while Hong Kong's Hang Seng index fell 0.4 percent to 27,777.20. But
South Korea's Kospi gained 0.7 percent to 2,377.66. Australia's S&P/ASX 200
was down 0.1 percent at 5,738.70. Stocks in Southeast Asia were mixed. The Total Investment & Insurance
Solutions
DATA WATCH: Investors are also waiting for
the latest updates on the U.S. economy before the Federal Reserve meeting due
next week. The U.S. Labor Department is scheduled to release reports on
consumer prices for August and the number of people who applied for
unemployment benefits last week.
OIL: Benchmark U.S. crude added 54 cents to
$49.84 per barrel in New York. The contract rose $1.07, or 2.2 percent, to close
at $49.30 a barrel on Wednesday. Brent crude, used to price international oils,
gained 46 cents to $55.62 per barrel in London. It added 89 cents, or 1.6
percent, to finish at $55.16 a barrel in the previous session. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar rose to 110.71 yen
from 110.49 yen. The euro rose to $1.1890 from $1.1884.The Total Investment & Insurance Solutions
No comments:
Post a Comment