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19 February 2018
 |
| South korea financial markets (The Total Investment & Insurance
Solutions) |
European shares drifted lower Monday as investors paused for breath
following a sizeable rally last week. Despite the move lower, there are few
signs of the turmoil that gripped stock markets earlier this month. U.S. stock
markets are closed for Presidents Day. The
Total Investment & Insurance Solutions
KEEPING SCORE: In Europe, Germany's DAX was
down 0.3 percent at 12,412 while the FTSE 100 index of leading British shares
fell 0.3 percent to 7,276. The CAC 40 in France was 0.2 percent lower at 5.269.
CALM DOMINATES: Earlier this month there were
real concerns that global stock markets were poised for a sustained period of
weakness. However, sentiment has recovered over the past week or so, with many
traders adjusting to the altered economic environment. The Total Investment & Insurance Solutions
ANALYST TAKE: "So far, global equity
markets seem to be adjusting to the prospect of higher inflation, presumably on
the basis that increases in corporate pricing power will be positive for
earnings rather than of the cost-push kind that dents profit margins and result
in a stagflationary economy," said Neil MacKinnon, global macro strategist
at VTB Capital.
ASIA'S DAY: Earlier, Asian stocks performed
strongly as they caught up with Friday's further advance, particularly on Wall
Street. Japan's Nikkei 225 jumped 2 percent to 22,149.21. The Tokyo benchmark
ended the day just 2.7 percent below where it started 2018, having recouped
most of its losses during the recent global rout. South Korea's Kospi advanced
0.9 percent to 2,442.82. Australia's S&P/ASX 200 rose 0.6 percent to
5,941.60. Chinese markets were closed for Lunar New Year. The Total Investment & Insurance
Solutions
OIL: Benchmark U.S. crude rose 46 cents to
$62.01 per barrel in electronic trading on the New York Mercantile Exchange
while Brent crude, used to price international oils, was up 25 cents at $65.09
a barrel in London.
CURRENCIES: The euro was down 0.1 percent at
$1.2397 while the dollar rose 0.2 percent to 106.60 yen.The Total Investment & Insurance Solutions
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