Markets Round-Up 1st November 2017.
Stock Markets
With 268 shares up and 225 down on the S&P, it was a mixed but positive day on Wall Street for the S&P as tech stocks helped it end October on a positive note. (The Nasdaq ⇑0.43% to 6727.67, the Dow ⇑0.12% to 23,377.24 and the S&P 500 ⇑0.09% to 2,575.26. )
Asian shares were higher on optimism about global economic growth following gains on Wall Street with Japan and Korea leading the way. (Japanese Nikkei ⇑1.86%, Hong Kong Hang Seng ⇑1.23%, The Chinese CSI 300 ⇓0.25%, Taiwan TAIEX ⇑012.% Korean Kospi ⇑1.31%, Australian ASX ⇑0.49% and the Indian Nifty ⇑1.1%.)
After a strong open in London, stocks gave back most of the earlier gains as investors positioned themselves ahead of tonight’s Federal Reserve meeting and tomorrow’s likely UK interest rate hike. Miners bucked the trend, having a good day on chinese manufacturing data (The FTSE 100 ⇓0.1% to 7488.0, the FTSE 250 ⇑0.5% to 20,328.2)
European stocks were lifted by resilient company earnings and record highs set in Asia and New York. (Euro Stoxx 50 ⇑0.64%, German Dax ⇑1.78%, French CAC40 ⇑0.2% , Spanish IBEX ⇓0.16% , Italian MIB ⇑0.87%)
U.S. shares have opened at record highs, as jobs data added to the upbeat sentiment following healthy third-quarter earnings reports.
Currency
The pound rose against the euro to €1.141 Euros and fell against the dollar at $1.325 US Dollars.
Commodities
Gold climbed as caution ahead of this week’s confirmation of the new Federal Reserve chair and a policy statement from the bank prompted some to close out bets on falling prices. ( $1274.4.)
Oil Prices were near two-year highs as OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal but then pulled back back after data showed U.S. crude exports surged to an all-time high and American drillers pumped near record levels . (Brent $60.46, WTI $54.26)
Other News
Eight people died Tuesday after a man driving a motor vehicle ploughed into pedestrians and cyclists on the western side of Manhattan in what New York Mayor Bill de Blasio called a “cowardly act of terror.” The driver was driving a rental pickup truck from a Home Depot store. The rampage ended when he crashed into a school bus near the Tribeca bridge, injuring two adults and two children. They are among 11 people with serious, but not life-threatening, injuries, according to emergency services.
UK house prices increased at a faster pace in October, data from Nationwide Building Society showed Wednesday. House prices increased 2.5% year-on-year, following September’s revised 2.3% rise. On a monthly basis, house price inflation halved to 0.2% from 0.4% in September. Nonetheless, this was the second consecutive rise in prices. Annual house price growth remains within the 2% to 4% range that has prevailing since March, Robert Gardner, Nationwide’s chief economist, said.
Next has once again seen growth in online sales offset a decline in its shops, with total full price sales up 1.3% during the third quarter. The fashion retailer’s sales from its website were up 13.2% in the three months to October, but its in-store sales fell by 7.7% over the period. This continued the trend from the first six months of the year where the online rise offset a loss in its shops. In a statement, Next predicted a fourth quarter fall in sales of 0.3%.
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