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07 January 2019
 |
| Financial Markets (The Total Investment & Insurance Solutions) |
European markets retreated Monday as the focus turned to trade issues,
with U.S. and Chinese officials discussing the tariffs dispute that has raised
concerns about global growth.
KEEPING SCORE: In Europe, Germany's DAX was
down 0.6 percent at 10,706 while the FTSE 100 index of leading British shares
fell 0.6 percent to 6,798. The CAC 40 in France was also 0.6 percent lower at
4,709. U.S. stocks were poised to open steady following Friday's bumper gains,
with Dow futures up 0.1 percent and the broader S&P 500 futures pointing to
a 0.1 percent fall.
U.S.-CHINA TALKS: A U.S. delegation led by
Deputy U.S. Trade Representative Jeffrey Gerrish sat down for two days of talks
with Chinese officials starting Monday. Any progress on ending a dispute that
has resulted in both sides imposing tariffs on billions of dollars' of each
other's exports would be welcomed in the markets. Over the weekend, President
Donald Trump told reporters at the White House that negotiations were going
"very well." The South China Morning Post, citing a person familiar
with the matter, reported that Trump plans to meet Chinese Vice President Wang
Qishan on the sidelines of the World Economic Forum in Switzerland, held on
Jan. 22 to 25. Last month, Trump and Chinese leader Xi Jinping met and agreed
to hold off on further tariffs for 90 days.
ANALYST TAKE: "Investors are going to be
on high alert for any updates on how the U.S.-China trade talks are going in
Beijing," said Connor Campbell, an analyst at Spreadex.
ASIA'S DAY: Japan's Nikkei 225 index gained
2.4 percent to 20,038.97, while South Korea's Kospi rose 1.3 percent to
2,037.10. Australia's S&P-ASX 200 added 1.1 percent to 5,683.20. Hong
Kong's Hang Seng climbed 0.8 percent to 25,835.70 and the Shanghai Composite
index rose 0.7 percent to 2,533.09.
ENERGY: U.S. crude oil added 91 cents to
$48.87 per barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, used to price international oils, was also up 91 cents at $57.97
per barrel.
CURRENCIES: The euro was up 0.4 percent at
$1.1443 while the dollar declined 0.3 percent to 108.25 yen.The Total Investment & Insurance
Solutions
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