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07 December 2018
 |
| financial markets (The Total Investment & Insurance Solutions) |
Shares rebounded in Europe and Asia on Friday as worries over U.S.-China
trade friction were calmed by conciliatory comments from Beijing. Attention was
turning toward upcoming U.S. jobs data.
KEEPING SCORE: In Europe, stock markets made
up around half of Thursday's losses in morning trading. Germany's DAX climbed
0.5 percent to 10,867 while the CAC 40 in France advanced 1.3 percent to 4,841.
Britain's FTSE 100 jumped 1.3 percent to 6,790. U.S. stocks were poised for
retreat after recovering from lows on Thursday — Dow futures and the broader
S&P 500 futures were both 0.5 percent lower.
THE DAY IN ASIA: Japan's benchmark Nikkei 225
added 0.8 percent to 21,678.68, and Australia's S&P/ASX 200 gained 0.4
percent to 5,681.50. South Korea's Kospi rose 0.3 percent to 2,075.76. Hong
Kong's Hang Seng gave up 0.3 percent to 26,063.76, while the Shanghai Composite
was flat at 2,605.89. Shares rose in India, Taiwan and Southeast Asia.
ANALYST TAKE: "European and Asian
markets have taken heart from a robust rebound last night in the U.S. that saw
the Dow Jones claw back a whopping 700 points from the lows," said Chris
Beauchamp, chief market analyst at IG.
TRADE WATCH: Despite skepticism over the
trade truce Presidents Donald Trump and Xi Jinping reached last weekend in
Buenos Aires, Argentina, Beijing has signaled it intends to go ahead with talks
meant to resolve the dispute. The arrest of Meng Wanzhou, chief financial
officer of telecoms network supplier Huawei Technologies, has driven home why
it will be so hard for the Trump administration to repair its deepening
conflict with China. The U.S. Commerce Department reported Thursday that the
gap between what the U.S. sells and what it buys from foreign countries hit
$55.5 billion in October while the touchy deficit with China rose 7.1 percent
from a year earlier to a record $43.1 billion.
PAYROLLS: How markets end the week could
hinge on the upcoming U.S. nonfarm payrolls report for November. Economists
have forecast that Friday's figures will show that employers added a healthy
195,000 jobs last month and that the unemployment rate stayed at a five-decade
low of 3.7 percent. Most economists think growth will remain brisk despite the
rampant worries of stock market investors. Still, analysts expect the economy
and hiring to likely weaken somewhat in the coming months.
ENERGY: U.S. benchmark crude rose 28 cents to
$51.86 a barrel in electronic trading on the New York Mercantile Exchange while
Brent crude, used to price international oils, rose 77 cents to $60.83.
CURRENCIES: The euro was down 0.1 percent at
$1.1387 while the dollar rose 0.2 percent to 112.84 yen.The Total Investment & Insurance Solutions
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