Global Shares Make Gains Monday 11/19 06:07
World shares saw moderate gains on Monday after a buying spree on Wall
Street sustained investor optimism into the new week, despite continuing
worries over trade tensions.
TOKYO (AP) -- World shares saw moderate gains on Monday after a buying spree
on Wall Street sustained investor optimism into the new week, despite
continuing worries over trade tensions.
KEEPING SCORE: France's CAC 40 added 0.4 percent to 5,047.56 in early
trading, while Germany's DAX was at 11,383.30, up 0.4 percent. Britain's
FTSE100 added 0.4 percent to 7,042.59. U.S. shares were set to drift lower with
Dow futures up less than 0.1 percent to 25,461. S&P 500 futures added 0.1
percent to 2,745.00.
BREXIT: British Prime Minister Theresa May was striving to win business
support for her Brexit deal with the European Union, but remained on a
collision course with lawmakers seeking to unseat her. In a speech Monday, May
planned to say the deal "fulfils the wishes of the British people as expressed
in the 2016 referendum" to leave the EU, and the withdrawal has already been
decided upon. Some pro-Brexit lawmakers in May's Conservative Party oppose the
deal between Britain and the EU. They are trying to gather the 48 lawmakers
they need to trigger a no-confidence vote in Parliament.
TRADE WORRIES: Clashes between China and the U.S. at a Pacific Rim summit
over the weekend may signal limited prospects for a breakthrough in a standoff
over the Trump administration's complaints that Beijing steals or pressures
foreign companies to hand over technology as the price of market access. The
U.S. has imposed a 10 percent tariff on $200 billion of Chinese goods. That
tariff is set to rise to 25 percent in January. Another $50 billion of Chinese
goods already is subject to 25 percent duties. Beijing has responded with
penalty duties on $110 billion of American goods. Talks continue ahead of a
meeting between Chinese President Xi Jinping and President Donald Trump planned
for the G-20 summit later this month.
JAPAN TRADE: Japan's trade deficit widened in October but its exports
rebounded after they were slammed by natural disasters in September. Data from
the Ministry of Finance showed exports grew 8.2 percent from the same month the
previous year. In September, exports fell 1.2 percent from the previous year in
the first decline for the world's third-largest economy since 2016. Imports in
October grew 19.9 percent on-year.
THE QUOTE: "The APEC Summit held at Papua New Guinea revealed just how deep
the rifts between U.S. and China are, watering down hopes of an imminent
U.S.-China trade deal that averts further tariffs," said Vishnu Varathan of
Mizuho Bank in Singapore.
ASIA'S DAY: Japan's benchmark Nikkei 225 rose 0.7 percent to finish at
21,821.16 and Hong Kong's Hang Seng added 0.7 percent to 26,372.00. The
Shanghai Composite index added 0.9 percent to 2,703.51 and India's Sensex
climbed 0.6 percent to 35,666.25. South Korea's Kospi gained 0.4 percent to
2,100.06. Australia's S&P/ASX 200 fell 0.6 percent to 5,693.70. Shares in
Southeast Asia were mixed.
ENERGY: Benchmark U.S. crude oil added 74 cents to $57.42 a barrel in
electronic trading on the New York Mercantile Exchange. Brent crude, used to
price international oils, gained 55 cents to $67.31 per barrel.
CURRENCIES: The dollar inched down 112.82 yen from 112.83 yen late Friday.
The euro was also little changed, at $1.1418, up from $1.1417.