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Markets cannot find a single direction at the beginning of the week

Markets cannot find a single direction at the beginning of the week, as optimism from Asia did not extend to Europe


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Markets cannot find a single direction at the beginning of the week, as optimism from Asia did not extend to Europe. The investors continue focusing on the Sina-American trade talks.

On Friday, China announced that it agreed to increase imports of US goods as part of the Beijing-Washington trade talks, which began at the end of last year.

The White House, for its part, pointed out that there was still “a lot of work” and showed immutability for the deadline of 90 days ending March 1.

Donald Trump administration is pushing China to put an end to its unfair practices, mainly related to the forced transfer of US technology to joint ventures in China, the theft of US intellectual property, piracy and large-scale subsidies to Chinese state-owned companies.

Asian markets recap

Most Asia-Pacific stock indices ended the first session of the week with rises after on Friday the US and China agreed to increase imports and to cooperate more in the field of intellectual property.

The blue-chip index of the Tokyo Stock Exchange, Nikkei 225, rose by 95.38 points, or 0.46%, to 20,883.77 points. The shares of technology giant Sony fell by 8.07% after the company lowered its sales forecast and operating revenue for the fiscal year.

Nikkei 225 index

South Korean index Kospi wiped out 0.06% of its value and ended the day at 2,203.46 points.

Australian benchmark S&P ASX 200 reported an increase of 0.48% to 5,891.20 points, with investors focused on the Australian central bank meeting on monetary policy, which is scheduled for Tuesday. The central bank is expected to maintain a stable course of its monetary policy.

On the Chinese markets, the continental index Shanghai Composite added 1.30% to its value and ended the session at 2,618.23 points.

Hong Kong’s index Hang Seng rose by 0.21% to 27,990.21 points.

European markets mid-session recap

German stocks are moving slightly lower on Monday with index DAX 30 decreasing by 9.09 points to 11,171.57 points at 09:00 GMT. The index started with sharp increase fo 11,208 points, but later the sentiment deteriorated and moved down. The carmakers’ stocks are moving down with Volkswagen wiping out 0.8% and BMW decreasing by 1.05%. The stocks chemical giant BASF are down by 0.36%, while the pharmaceutical company Bayer is up by 1.36%.

DAX 30

British stocks are slightly up, as blue-chip index FTSE 100 increases by 5.95 points to 7,026.17 points. However, ming stocks are down. The shares in Ukraine-focused miner Ferrexpo fell by 7% after it said publication of its prelims could be delayed as it investigates payments made to a charitable foundation. There was a broader-based sell-off in the natural resources sector with profit-taking and continued worries over the direction of Sino-American trade talks hitting the diggers. Rio Tinto, Anglo American, and Antofagasta were down respectively 1.7%, 1.6%, and 1.2%.

French index CAC 40 is down by 0.25% to 5,0006.92 points at 9:00 GMT. The stocks of carmakers are down by about 1%, amid Sino=American trade tensions. Mining and steel producers are down, while the aircraft manufacturer Airbus appreciated by 0.71%.

Wall Street pre-session recap

Wall Street stock index futures were slightly lower Monday morning, as market participants awaited another batch of quarterly corporate results.

At around 4:00 a.m. ET, Dow Jones Industrial Average futures slipped 17 points, indicating a negative open of more than 38 points. Futures of the S&P and Nasdaq are own slightly down by 2.78 points and 5.52 points, respectively.

On the data front, investors are likely to monitor factory orders figures for November at around 10:00 a.m. ET.

In corporate news, Alexion Pharma, Clorox and Sysco are among the major companies scheduled to report their latest results before the opening bell. Alphabet, Gilead Sciences and Seagate Technology are all expected to publish their latest figures after the bell.