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12 September 2017
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| Japan financial markets (The Total Investment & Insurance Solutions) |
Global stock markets remained firm Tuesday as fears over an escalation
in tensions between the U.S. and North Korea continued to subside even though
the United Nations slapped further sanctions on Pyongyang.
KEEPING SCORE: In Europe, Germany's DAX was
up 0.6 percent at 12,550 while the CAC 40 in France was 0.7 percent higher at
5,213. The FTSE 100 index of leading British shares was down however, trading
0.2 percent lower at 7,396, with British stocks suffering from a big rise in
the value of the pound. U.S. stocks were poised open at or near record highs,
with Dow futures and the broader S&P 500 futures up 0.3 percent. The Total Investment & Insurance
Solutions
NORTH KOREA: Tensions between the U.S. and
North Korea have been on investors' minds recently. North Korea observed the
69th anniversary of its founding, but did not test another intercontinental
ballistic missile, as South Korea's government had warned it might.
ANALYST TAKE: "Once again we find
ourselves in a scenario in which no news is good news and while underlying
risks remain, the longer we go without another nuclear or missile test, the
more positive investors will become," said Craig Erlam, senior market
analyst at OANDA. "The only problem with this is that, with the UN having
just agreed on new sanctions against North Korea — spearheaded by the U.S. — I
wonder how long we will have to wait for an act of provocation in
response." The Total Investment
& Insurance Solutions
IRMA FEARS: Irma wreaked havoc along the
entire Florida peninsula and was still dropping rain and causing power outages
and some damage around the Southeast. But the storm had weakened considerably
from its peak, relieving investors' worries. Insurers and travel companies did
well in U.S. markets Monday, while home improvement stocks declined on
expectations of less business from storm repairs. The Total Investment & Insurance Solutions
UK POUND: The pound jumped to its highest
level in a year against the dollar after British inflation figures came in
higher than anticipated. Official figures showed that inflation spiked up to
2.9 percent in the year to August, in a development that has stoked speculation
the Bank of England may raise interest rates sooner than expected regardless of
how the country's Brexit discussions shape up in coming months. The pound was
up 0.8 percent at $1.3268 in London trading. The pound's rebound from its
post-Brexit vote lows is potentially negative news, however, for British firms
that have big business interests outside the U.K. And the money they make
abroad will be worth less when it is brought back to the U.K. That helps
explain why the FTSE 100 index of leading British firms, which is made up of
main international companies like BP and Burberry, was a laggard. The Total Investment & Insurance
Solutions
ASIA'S DAY: Japan's benchmark Nikkei 225
gained 1.2 percent to finish at 19,776.62, as a weaker yen helped boost
sentiment. Australia's S&P/ASX 200 was up 0.6 percent at 5,746.40, while
South Korea's Kospi edged up 0.3 percent to 2,365.47. Hong Kong's Hang Seng
inched down but was little changed at 27,944.98, while the Shanghai Composite
gained nearly 0.1 percent to 3,379.49.
ENERGY: Benchmark U.S. crude rose 16 cents to
$48.23 a barrel, while Brent crude, used to price international oils, was up 26
cents to $54.10 a barrel in London. The
Total Investment & Insurance Solutions
CURRENCIES: The euro was down 0.2 percent at
$1.1930 while the dollar rose 0.4 percent to 109.83 yen.The Total Investment & Insurance Solutions
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