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27 October 2017
 |
| Japan financial markets (The Total Investment & Insurance Solutions) |
Global stocks rose Friday on the back of strong corporate earnings
reports and as investors look ahead to U.S. GDP data.
KEEPING SCORE: Germany's DAX climbed 0.7
percent to 13,227 and the CAC 40 of France gained 0.8 percent to 5,496. The
FTSE 100 of Britain rose 0.2 percent to 7,498. Dow and S&P futures both
were up 0.2 percent, pointing to a positive start on Wall Street.
EARNINGS: Company earnings reports continue
to mostly come in above expectations. Major tech companies Alphabet, Amazon and
Microsoft all posted strong figures late Thursday while on Friday Volkswagen
raised its profit forecast for the year despite booking more charges for its
diesel scandal. And though drug maker Merck reported a loss, it was not as bad
as markets were expecting and the company also raised its outlook for the year.
CENTRAL BANKS: Stock indexes were also
supported since the European Central Bank said Thursday that it will act
gradually in reducing its bond purchases, which it has been making to
strengthen the economy. Starting in January the bank plans to cut the size of
its purchases in half, to 30 billion euros a month. Investors were relieved the
bank isn't being more aggressive.
US GROWTH: One of the focus points later for
investors will be the first estimate of U.S. economic growth in the
July-September quarter. Economists expect a solid 2 percent annualized rate,
driven mainly by consumer spending and despite damage wrought by the summer's
hurricanes.
ASIA'S DAY: The Nikkei 225's close at
22,008.45 was a new 21-year high for the index. Gains for U.S. technology
companies pushed South Korea's Kospi up 0.6 percent to 2,496.63 and Hong Kong's
Hang Seng index surged 0.8 percent to 28,438.85. The Shanghai Composite index
added 0.3 percent to 3,416.81 and Australia's S&P ASX 200 fell back to end
0.2 percent lower at 5,903.20. India's Sensex picked up 0.2 percent to
33,227.61. Shares in Southeast Asia were mixed.
CURRENCIES: The dollar rose to 114.20 yen
from 114.00 yen. The euro fell to $1.1605 from $1.1654 as investors expect
interest rates in Europe to stay lower for longer than they had believed
earlier.
ENERGY: Benchmark U.S. crude slipped 11 cents
to $52.53 a barrel in electronic trading on the New York Mercantile Exchange.
It gained 46 cents on Thursday. Brent crude, used to price international oils,
gave up 19 cents to $59.11 a barrel.The
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