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26 November 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
World markets mostly rose on Monday on hopes for an easing in the
U.S.-China trade war, an interim deal on Brexit, and a stabilization in the
volatile price of oil.
KEEPING SCORE: In Europe, Germany's DAX index
was 1.3 percent higher at 11,336 and France's CAC 40 rallied 1.1 percent to
5,000. Britain's FTSE 100 index was up 0.9 percent at 7,016 after the country's
government agreed on a Brexit deal with the EU, though it could yet be voted
down by the British parliament in two weeks. The Total Investment & Insurance Solutions
Wall Street was set for a strong open.
Futures for the broad S&P 500 index rose 1.1 percent and Dow futures
climbed 1.1 percent.
ASIA'S DAY: Japan's benchmark Nikkei 225,
reopening after a holiday, added 0.8 percent to 21,812.00. South Korea's Kospi
jumped 1.2 percent to 2,083.02. Hong Kong's Hang Seng index rebounded 1.7
percent to 26,376.18. The Shanghai Composite dipped 0.1 percent to 2,575.81.
Australia's S&P/ASX 200 lost 0.8 percent to 5,671.60. Shares rose in Taiwan
and throughout Southeast Asia.
BREXIT DEAL: The European Union and Britain
finally sealed an agreement governing the country's departure from the bloc on
March 29. This comes after months of stop-and-start negotiations and
resignations. British Prime Minister Theresa May must now get her divided
Parliament to back the deal, which leaves Britain subject to rules of the bloc
at least until the end of 2020, but avoids the worst-case scenario for
businesses of a sudden return of tariffs and customs checks. May is facing
opposition from both pro-Brexit and pro-EU camps.
ANALYST'S TAKE: Traders may be celebrating
too soon, Chris Weston of Pepperstone Group Limited said in a market
commentary. "As things stand, the numbers just aren't there (in
parliament)," he said. "A deal is likely to be voted down." The Total Investment & Insurance
Solutions
TRUMP-XI MEETING: Sentiment was also lifted
by hopes that President Donald Trump and his Chinese counterpart Xi Jinping
will unwind a blistering trade dispute this week. The leaders are scheduled to
meet at the Group of 20 summit in Buenos Aires. Topping the agenda is a trade
dispute over Beijing's technology policy, which has caused the U.S. and China
to impose tariffs on billions of dollars of each other's goods. Chang Wei Liang
of Mizuho Bank said that "an agreement for talks over dinner suggests a
higher level of engagement, which could result in a gentlemen's agreement not
to escalate tariffs further."
ENERGY: Oil prices recovered after plunging
on worries that a slowing global economy could hurt demand for oil. Benchmark
U.S. crude added 55 cents to $50.97. The contract plunged $4.21 on Friday to
close at $50.42 in New York. Brent crude, the international standard, gained
$1.09 to $59.89. It finished $3.80 lower at $58.80 in London. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar strengthened to 113.22
yen from 112.96 yen late Friday. The euro rose to $1.1361 from $1.1339, and the
pound gained to $1.2847 from $1.2819.The
Total Investment & Insurance Solutions
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