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On 04 July 2019 - Global markets were mixed in thin trading

Fidelity

Fidelity - Research team

The US market was shut for the Fourth of July. European and Asian markets were cautious on lingering concerns over the trade war.

European markets

European markets remained cautious despite Wall Street closing at record highs on Wednesday, as trade war concerns lingered. Markets have been subdued as the US market was closed for the Fourth of July holiday. The German DAX and the Stoxx 600 remained flat, while the FTSE 100 edged up 0.1% as the threat of trade war escalation was offset by continued optimism over Christine Lagarde’s nomination to replace Mario Draghi as president of the European Central Bank.

Among market movers, shares in British Airways’ parent company International Consolidated Airlines and Coca-Cola’s largest European bottler Coca-Cola HBC slumped. UK home builder Persimmon posted a disappointing first-half trading update, as its revenues declined to £1.75 billion from £1.84 billion in the previous year, reflecting the weakness in the UK housing market. While its shares initially plummeted, they recovered in subsequent trading. Shares in Israel-based oil and gas producer Energean Oil & Gas surged as it announced plans to buy Italian energy group Edison’s oil and gas unit.

In economic data, the German construction sector continued to struggle as the latest Purchasing Managers’ Index (PMI) survey reading fell for a third consecutive month to its lowest level since October last year. Eurozone retail sales slid 0.3% month-on-month in May, raising questions on the strength of the region’s services sector.

Asia Pacific Markets

Asian markets had a mixed session Thursday, following record closing highs for US stocks in a shortened trading day. The rally follows a slight easing of trade tensions between the US and China, after they agreed to refrain from fresh tariffs pending a new round of negotiations.

Japan’s Nikkei closed up near 0.3%, with shares in SoftBank and Inpex gaining, although Fast Retailing declined. Hong Kong’s Hang Seng Index gave up early gains and ended down 0.2%. Shares in Sino Biopharmaceutical and Galaxy Entertainment rose, while Sunny Optical fell. After starting the trading day flat, the Shanghai Composite slipped 0.3%.

Meanwhile, South Korea’s Kospi erased early losses and rose 0.6%. Benchmark indexes in Taiwan, Singapore and Indonesia registered modest gains, while Australia’s S&P/ASX 200 rose 0.5%. Samsung inched up in South Korea, as did Taiwan Semiconductor in Taiwan. Westpac and National Australia Bank gained in Australia.

Looking forward

A slew of economic data releases are on tap in Europe. France releases merchandise trade data for May, Germany is set to announce manufacturers' orders for May, and Halifax HPI for June is on tap in the UK. In Asia, Japan is set to release household spending data for May. Over in the Americas, Canada releases the Ivey Purchasing Managers data for June, while the Labor force survey and employment situation for June are on tap in the US.

Global Stock Markets

as at 04/07/2019
Source: Refinitiv DataStream, Price Index Returns in local currency. Past performance is not a reliable indicator of future results

 

Market

Close as at 04/07/2019

% change
04/07/2019

Net change

US

US: Dow Jones**

26966.0

0.00

0.00

US: S&P 500**

2995.8

0.00

0.00

Nasdaq: NASDAQ**

8170.2

0.00

0.00

Europe

MSCI Europe

1627.6

0.08

1.28

UK: FTSE All Share

4148.0

-0.05

-2.10

UK: FTSE 100

7603.6

-0.08

-5.74

Germany: DAX

12629.9

0.1

13.66

France: CAC 40

5620.7

0.03

1.92

Netherlands: All Share

848.6

0.13

1.08

Italy: S&P MIB

22120.7

0.98

215.36

Switzerland: SMI

10066.5

-0.00

-0.05

Spain: IBEX 35

9401.0

0.07

6.60

Sweden: OMX

1652.3

0.21

3.41

Asia

Japan: Nikkei

21702.5

0.30

64.29

MSCI Asia Pacific ex Japan

593.4

0.15

0.91

Hong Kong: Hans Seng **

28795.8

-0.21

-59.37

Australia: S&P/ASX 200

6718.0

0.49

32.50

China: Shanghai Shenzhen 300

3873.1

-0.52

-20.43

*This reflects the % amount that each market has fallen since its highest point in the last 12 months.
** US markets were closed for the Fourth of July

Note: all releases are listed in local time.

Important information

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