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15 November 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
Global
stock markets mostly rose Thursday, though European indexes and the pound
sagged as discord within the British government threatened a newly agreed
Brexit deal.
KEEPING SCORE: German's DAX was flat at 11,417 and France's CAC 40 shed
0.3 percent to 5,054. London's FTSE 100 gained 0.1 percent to 7,038, as a sharp
drop in the pound pushed up the share price of multinationals that make most of
their money outside the country.
On Wall Street, futures for the Standard
& Poor's 500 index and Dow Jones Industrial Average were up 0.3 percent.
ASIA'S DAY: The Shanghai Composite Index rose
1.4 percent to 2,668.17 and Hong Kong's Hang Seng added 1.7 percent to
26,103.34. Tokyo's Nikkei 225 shed 0.2 percent to 21,803.62 and Seoul's Kospi
advanced 1 percent to 2,088.06. Sydney's S&P-ASX 200 added 3 points to
5,736.00. India's Sensex rose 0.6 percent to 35,339.44. Bangkok and New Zealand
retreated while Taiwan and other Southeast Asian markets rose.
BREXIT: British Prime Minister Theresa May
persuaded a majority in her Cabinet to back an agreement to separate from the
European Union. The deal would allow Britain to stay in a customs union while a
trade treaty is negotiated. It was unclear, however, whether Parliament will
approve it and discord soon erupted, with several government officials,
including the Brexit minister, resigning. The pound fell 1.4 percent, a wide
margin for a developed economy's currency.
ANALYST'S TAKE: "Despite the U.K.
Cabinet backing the new Brexit draft plan, the boost for markets had been
short-lived with the sea of worries overruling sentiment," said Jingyi Pan
of IG in a report.
ENERGY: Benchmark U.S. crude fell 4 cents to
$56.21 per barrel in electronic trading on the New York Mercantile Exchange.
The contract rose 56 cents on Wednesday to close at $56.25. Brent crude, used
to price international oils, advanced 44 cents to $66.56 per barrel in London.
It gained 65 cents the previous session to $66.12.
CURRENCY: The dollar weakened to 113.44 yen
from Wednesday's 113.63 yen. The euro was steady at $1.1311.The Total Investment & Insurance
Solutions
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