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 - May 18, 2018

Lex Hall  |  18 May 2018Text size  Decrease  Increase  |  
Email to Friend

Australia

The local share market is set to edge slightly higher despite falls on Wall Street amid renewed concerns about US-China trade tensions.
At 8.30am (AEST), the Australian share price futures index was up 14 points, or 0.23 per cent, at 6122 points. The Australian dollar is buying 75.12 US cents.
In the US, the Dow Jones index was down 0.22 per cent after US President Donald Trump said China "has become very spoiled on trade", which added fuel to investor jitters ahead of a second round of talks to avoid a tariff war between the world's two largest economies.
The Australian share market yesterday closed lower as Westpac traded ex-dividend, and the industrial and healthcare sectors lost ground.
The benchmark S&P/ASX200 was down 12.7 points, or 0.21 per cent, at 6094.3 points, while the broader All Ordinaries index was down 10.9 points, or 0.18 per cent, at 6197.2 points.
Funeral and crematorium giant InvoCare holds its AGM in Sydney.

Asia

Asian shares edged higher on Thursday while the euro gained some respite after hitting five-month lows a day earlier.
The common currency slumped on Wednesday following a report that Italian populist parties trying to form a coalition government could ask the European Central Bank to forgive 250 billion euros of Italian debt.
In equity markets, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent, while Japan’s Nikkei gained 0.5 per cent.
The gains in Asian shares came after US equities advanced on Wednesday, led by retail and technology shares, even as a rise in US 10-year Treasury yields to an almost seven-year high suggested more competition for equities.

Europe

Strong oil prices helped Britain's top share index seal its highest ever closing level on Thursday while online grocery retailer Ocado rocketed up 44 per cent after signing a deal with US grocer Kroger.
The FTSE 100 climbed 0.7 per cent to close at 7787.97 points, just a whisker away from its record intraday high of 7792.56 points hit in mid-January.
On the European mainland, Germany's DAX 30 finished 0.91 per cent higher, while France's CAC40 was up 0.98 per cent.
The mid-cap FTSE 250 index hit a new record high, surpassing its previous mid-January record, up 0.9 per cent on the day. For both indices it marked a full recovery from the turmoil which had dented markets globally since January.
The star of the session was Ocado, whose shares shot up as much as 81 per cent in intra-day trading before closing up 44 per cent after it announced that US retailer Kroger would use its technology.

North America

Wall Street turned negative in indecisive trade on Thursday, giving up earlier gains as investors grappled with renewed trade worries and rising oil prices.
Unrest in the Middle East suggested a reduction of oil supply and sent crude prices to their highest level in 3½ years. The S&P Energy index was up 1.2 per cent, the largest gainer of the major S&P 500 sectors.
Energy producers rallied on merger activity, while Cisco Systems’s weak earnings weighed on tech shares. The surging dollar bolstered domestically focused small caps to a fresh record. Data on manufacturing and employment that showed economic strength lifted Treasury yields to 3.11 percent.

More from Morningstar

What Buffett bought in 1Q18

Even Brits are bearish on UK stocks

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

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

 

Lex Hall is a Morningstar content editor, based in Sydney.

© 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

© 2021 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 'regulated financial advice' under New Zealand law has 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. For more information, refer to our Financial Services Guide (AU) and Financial Advice Provider Disclosure Statement (NZ). Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. 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. The article is current as at date of publication.

Email To Friend