Learn To Invest
Stocks Special Reports LICs Credit Funds ETFs Tools SMSFs
Video Archive Article Archive
News Stocks Special Reports Funds ETFs Features SMSFs Learn
About

News

Global Market Report - 23 November

Lex Hall  |  23 Nov 2018Text size  Decrease  Increase  |  
Email to Friend

Australia

The Australian share market is set to dip at the open after Wall Street stumbled into its Thanksgiving halt, while European stocks traded lower and oil prices also fell.

The SPI200 futures contract was down 30 points, or 0.51 per cent, to 5667.0, at 8am Sydney time, pointing to a drop for the ASX at the open.

Yesterday, broad-based gains saw the market close in the black for the first time this week.

The Aussie dollar is steady, buying US72.54 cents, up from US72.52 cents yesterday.

A pre-holiday rebound in US energy and technology shares had lifted Wall Street, but the market faltered toward the session’s end as Apple shares surrendered gains ahead of Thanksgiving.

Out today: Commonwealth Bank Flash Australia Composite PMI; Victoria state election held tomorrow.

ASIA

China's main stock indexes ended lower on Thursday, extending a lengthy slump tied to the US-China trade war, and few analysts expect either the dispute or market weakness to end any time soon.

Investing Compass
Listen to Morningstar Australia's Investing Compass podcast
Take a deep dive into investing concepts, with practical explanations to help you invest confidently.
Investing Compass

The Shanghai Composite index as it closed 0.2 per cent lower. The index has fallen more than 20 per cent so far this year.

The blue-chip CSI300 index finished down 0.4 per cent, weighed down by financial and real estate firms that had risen in recent sessions on hopes that official growth-boosting measures will cushion the impact of the trade war and slowing economic growth.

In Hong Kong, gains by Tencent Holdings helped the Hang Seng index to end 0.2 per cent higher, but the China Enterprises Index finished down 0.4 per cent.

Japan's Nikkei rose on Thursday in choppy trade with gains for defensive stocks and companies linked to inbound tourism demand after data showed a bounce in visitors in October.

The Nikkei gained 0.7 per cent to 21,646.55, yet it barely moved for the week. The broader Topix advanced 0.8 per cent to 1628.96, though trade was thin, with only 1.2 billion shares changing hands, the lowest figure in a month.

Japanese markets will be closed on Friday due to a national holiday.

EUROPE

The pan-European STOXX 600 ended the day down 0.7 per cent, with most sectors trading in the red following gains in the previous session that helped the pan-European index bounce from near two-year lows.

Uncertainty over Italian politics, Brexit and worries over slowing economic and earnings growth have discouraged investors from taking risks as central banks take steps to end years of easy monetary policy.

Miners were the biggest fallers, down 1.9 per cent as copper prices edged lower on worries over slowing global economic growth, hurt by an escalating trade war between Washington and Beijing.

Britain's Centrica slid 9.2 per cent to lead losers on the STOXX 600 after its trading update. Analysts at Jefferies said even though the energy company affirmed some of its debt and dividend targets for the year, its earnings per share guidance was 10 per cent below consensus.

Britain and the European Union agreed a draft text setting out a close post-Brexit relationship, officials said, though wrangles over fish and the future of Gibraltar must still be settled before leaders meet on Sunday.

NORTH AMERICA

Oil prices dipped overnight after US inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.

Benchmark Brent fell 96 cents, last trading at $US62.52 a barrel, edging back from a more than $US1 drop in early European trading.

US WTI fell more than a $US1 before easing back to settle down 78 cents at $US53.85.

Trading was thin due to the Thanksgiving holiday in the US.

 

More from Morningstar

Investment managers ride active ETF wave

• Coles' ASX debut: steady cashflows but rivals loom

Make better investment decisions with Morningstar Premium | Free 4-week trial

 

Morningstar with AAP, Reuters

Lex Hall is content editor, Morningstar Australia

© 2018 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. This information is to be used for personal, non-commercial purposes only. No reproduction is permitted without the prior written consent of Morningstar. Any general advice or 'class service' have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), or its Authorised Representatives, and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product's future performance. To obtain advice tailored to your situation, contact a licensed financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO"). The article is current as at date of publication.

is senior editor for Morningstar Australia

AAP logo

© 2021 Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.

Email To Friend