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22 February 2019
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| Financial Markets (The Total Investment & Insurance Solutions) |
Global shares were mixed Friday as nervous investors await developments
in the U.S.-China trade talks in Washington.
European shares rose, with France's CAC 40 gaining 0.3 percent in midday
trading to 5,212. Germany's DAX was up 0.6 percent at 11,487 and Britain's FTSE
100 rose 0.5 percent to 7,204.
U.S. shares were set to open higher as Dow futures rose 0.5 percent to
25,970. S&P 500 futures also rose close to 0.5 percent, to 2,786.
A hodge-podge of recent economic data is fueling concerns over risks to
global growth and the world's two biggest economies are locked in a trade war
spurred by U.S. contentions that China uses predatory tactics in a quest to
overtake U.S. technological dominance, including pressuring American companies
to hand over trade secrets and in some cases stealing them outright.
The Trump administration has warned it will increase its import taxes on
$200 billion in Chinese goods from 10 percent to 25 percent if the two sides
haven't reached a resolution by March 2. But Trump in recent days has signaled
a willingness to extend the deadline if negotiators are making progress.
"The trade talks do appear to have made some progress. However, a
run of weak data from Japan, Europe and the U.S. yesterday took the wind out of
the equity market sails," said Jeffrey Halley, senior market analyst at
OANDA.
KRAFT HEINZ TROUBLE: Shares in Kraft Heinz plunged 20 percent before the
opening bell Friday. The company disclosed an investigation by federal regulators
and said it will slash the value of its Oscar Mayer brands by $15.4 billion,
leading to a $12.6 billion loss for the fourth quarter.
THE DAY IN ASIA: Japan's benchmark Nikkei 225 inched down 0.2 percent to
finish at 21,425.51. Australia's S&P/ASX 200 gained 0.5 percent to
6,167.30. South Korea's Kospi was unchanged at 2,230.50, while Hong Kong's Hang
Seng rose 0.5 percent to 28,762.75. The Shanghai Composite gained 1.9 percent
to 2,804.23.
ENERGY: Benchmark U.S. crude rose 50 cents to $57.47 a barrel in
electronic trading on the New York Mercantile Exchange. It slid 0.3 percent to
settle at $56.96 a barrel in New York. Brent crude, used to price international
oils, gained 40 cents to $67.47.
CURRENCIES: The dollar rose to 110.86 yen from 110.70 yen on Thursday.
The euro made a modest gain to $1.1343 from $1.1338.The Total Investment & Insurance Solutions
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