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The Breakfast Briefing: Global Stocks Mostly Rise As Border-Security, Trade Talks Progress
FYI: Global stocks were mostly higher Thursday as fears over global trade and the possibility of another U.S. government shutdown continued to ebb.
The Stoxx Europe 600 gained 0.5% in early trading, after U.S. stocks closed higher Wednesday amid expectations that President Trump will sign a border-security deal that will also keep the government open.
Assets exposed to global trade were among those powering European gains, with the Stoxx’s industrial goods and services sector up 1.1% and technology and autos stocks also posting increases.
With fresh tariffs set to take effect on March 1, markets have begun to anticipate a “limited deal” between the U.S. and China, according to Paul Donovan, chief economist at UBS Global Wealth Management in a note.
Software firm Micro Focus International jumped 7.6% and French car manufacturer Renault rose 2.6% after both released 2018 results. Airbus shares climbed 5% after saying it would stop building its superjumbo A380 airplane in 2021.
Trading in Asia was mixed, with major indexes in Hong Kong and Shanghai ticking down while South Korea’s Kospi benchmark climbed 1.1%. Index heavyweights Samsung Electronics and Korean Air each gained around 3%.
In the U.S., futures pointed to 0.4% opening gains for the S&P 500 and the Dow Jones Industrial Average, with the Nasdaq-100 set to edge a further 0.5% toward exiting bear-market territory. Regards, Ted
