Markets returned to growth after positive trend of technology stocks and growth on Wall Street. The improvement started from Europe, where major indexes finished the session with increases on the background of expectations for the meeting between British Prime Minister Theresa May and European Commission (EC) President Jean-Claude Juncker, as well as due to the good performance of financial sector companies. The green wave moved to Wall Street, where major indexes ended the 2-day negative session and compensated some of the loses.
The investors continue watching the news about Brexit, US-China trade tensions and Italian draft budget. Negative corporate news in technology also flooded the markets during the last days, but obviously the stocks already absorbed them and returned to uptrend.
Asian Markets recap
Asian exchanges ended another session without a clear direction, as investors remain uncertain about the upcoming meeting between the US President Donald Trump and Chinese leader Xi Jinping at the end of the month
China’s markets continue to be monitored by investors because of continued trade tensions between Beijing and Washington and the expectations for an agreement on trade issues between the United States and China at the G20 summit in Buenos Aires are further weakening. Both sides appear to be seriously confused.
On the Chinese markets, the Shanghai Composite decreased by 0.23%, ending the day at a level of 2,645.43 points. Hong Kong’s index Hang Seng rose by 0.18%, or 47.94 points, to 26,019.41 points.
In Japan, the Nikkei 225 reported a 139-point rise, or 0.64%, to 21,646.55 points. The shares of the largest Japanese bank Mitsubishi UFJ Financial Group declined by 1.43% after the New York Times published the news that the US Prosecutor’s Office is investigating creditor systems for tracking money laundering operations. The core consumer prices in the country rose by 1% on an annual basis.
In Australia, the local S&P ASX 200 added 48.50 points, or 0.86%, to its value, ending the session at 5,691.30 points. Financial sector companies appreciated by a total of 0.77%. Australia and New Zealand Banking Group rose by 1.3%, while Commonwealth Bank of Australia and National Australia Bank added 0.81% and 0.92% respectively. Shares of Westpac Banking Corporation rose by 0.35%.
In South Korea, the Kospi index fell 0.32% to 2,069.95 points.
European markets mid-session recap
European indexes are on negative territory on Thursday mid-session, as the dollar weakened additionally.
German stocks fell on mid-session on Thursday, as the dollar dipped against the euro in muted trade amid the Thanksgiving holiday in the US. The benchmark DAX 30 was down by 64 points, or 0.57%, to 11,180.09 points at 10:30 GMT, after rallying 1.6% the previous day. The export-driven automakers BMW, Daimler and Volkswagen wiped out around 1% of their stocks value. Banks are also on downtrend, with Commerzbank losing 2.2% and Deutsche Bank declining by 1.8%.
The French stocks also fell on Thursday. The benchmark CAC 40 index was down by 30.19 points, 0.60%, to 4,945 points at 10:30 GMT, after rising 1 percent on Wednesday. The stocks of the automaker Renault fell by 1.1%, while its rival Peugeot wiped out 1.4% of its value. The banks BNP Paribas, Credit Agricole and Societe Generale are losing around 2%.
The British FTSE 100 is the biggest loser today. The index lost 97.58 points, or 1,38%, to 6,952.65 points in mid-session on Thursday. Shares in the owner of British Gas, Centrica, fell by 7.3% after it said it lost a further 372,000 customers in the last four months.
Wall Street markets futures recap
The US markets will be closed today because of the Thanksgiving holiday, but the futures of the major indexes are running deep into red. Dow Jones Industrial average is down by 77.00 points, while S&P 500 is decreasing by 6.50 points and Nasdaq is losing 29.00 points.
The negative session in Europe and uncertainty about US-China trade deal is the main cause of the declines. However, the indexes will open only on Friday and until then the situation may change.