World stock markets are slightly up on Monday as positives battled with trade disputes and financial conditions, which have been plaguing investors.
Continuing trade talks between the US and China have had a positive impact on investors’ mood. Last week, US Treasury Secretary Steven Mnuchin said that Washington and Beijing had reached a preliminary agreement on how to monitor compliance.
The investors’ optimism was also supported by G20 finance ministers ‘and central bankers’ forecasts, according to which the global economy is likely to boost its growth later this year due to the favorable development of negotiations between the world’s two most powerful economies.
European Union countries voted on Monday gave a nod to kick off trade talks with the US. France voted against the mandates while Belgium abstained.
Asian markets recap
The main stock indexes of the Asia-Pacific region ended Monday session into the green backed by Chinese export data in March, which surpassed analysts’ expectations.
Japanese blue-chip index Nikkei 225 added 298.55 points, or 1.37%, to 22,169.11 points. The stocks of the car manufacturer Nissan Motor rose by 0.8%, after Reuters announced that the joint venture for the production of batteries for electric cars, in which Nissan has 20% stake, has begun building a new factory in China.
The South Korean index Kospi rose by 0.42% to 2,242.88 points. The stocks of Asiana Airlines rose by 30%, while Air Busan and Asiana IDT added 29.80% and 29.78%, respectively. The rise in the shares of the airlines was triggered by the news that Kumho Asiana Group, which owns a 33.5% stake in Asiana Airlines, has agreed to sell part of it.
In China, the mainland index Shanghai Composite advanced by 0.37% to 3,200.31 points. At the same time, Hong Kong’s index Hang Seng recorded a growth of 78.85 points, or 0.26%, to 29,988.61 points.
In Australia, the local index S&P ASX 200 rose by 0.10 points to 6,251.40 points, with many of the sectors recording decreases.
European markets mid-session recap
German index DAX 30 is trading with an increase of 15.5 points, or 0.12%, to 12,015.43 points at 11:25 GMT. The stocks of Volkswagen rose by 0.4%, but Daimler is down by 0.7% after the news that the company faces probe for new emissions cheating software. The shares of software company SAP inched higher by 0.23%, BASF and Buyer also rose by 0.9% and 0.4%, respectively. The stocks of Deutsche Bank rose sharply at mid-session by 1.9%.
French index CAC 40 is also moving higher, rising by 0.27% to 5,517.36 points. The stocks of carmakers are on the rise with Renault adding 0.45% and Peugeot rising by 0.63%. The shares of Airbus are also up by 0.35%.
Britain’s main index is slightly up on Monday. The blue-chip benchmark FTSE 100 is trading with an increase of 7.74 points, or 0.1%, to 7,444.80 points. The miners and oil majors fell, bank stocks are gaining. Shell and BP extended losses following a dip in oil prices. Compass Group, the world’s biggest catering firm, was on track for its worst day in six months with a 3 percent drop after Barclays cut its rating. Mediterranean-focused Energean Oil & Gas jumped almost 10% to a record high after announcing a new gas discovery at the Karish North exploration well. Builder Kier added nearly 4.1% as it said its newly appointed CEO planned to cut debt and respond to problems affecting the outsourcing industry.
Wall Street pre-session recap
Wall Street stock index futures were slightly higher Monday morning, as market participants awaited further earnings reports.
At around 6:44 a.m. ET, Dow futures indicated a positive open of more than 42 points. Futures for the S&P and Nasdaq are slightly into the green.
Corporate earnings will be the biggest focus on Monday, with two of the biggest Wall Street banks reporting. Citigroup and Goldman Sachs will update investors before the bell as well as Charles Schwab and M&T Bank.
Market players are also carefully watching any Fed-related developments amid predictions of a potential cut in rates.
On the data front, there will be Empire State manufacturing data at 8.30 a.m. ET.