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World Markets Today 29/10/2018

posted onOctober 29, 2018

Asian stocks ended mixed on Monday with mainland Chinese indices plunging as weak profits for industrial and consumer firms added to investors concerns about slowing economic and earnings growth.

 In economic news, Japanese retail sales fell 0.2 percent in September after climbing by 0.9 percent in August,a government report showed. In Australia, markets rallied after the recent sell-off.

European markets closed sharply higher following a Bloomberg report that China will halve its car purchase tax.  Auto stocks pushed higher, up by more than 3 percent.

Investors also digested news that German Chancellor Angela Merkel  won't seek another term as head of government and at the helm of the ruling Christian Democratic Union.

In London, the U.K.'s finance chief, Philip Hammond, presented the last budget plan before the country leaves the EU next year. 

Across the Atlantic, it was  a turbulent trading session on Wall Street. U.S. markets finished with deep losses, giving up sharp gains from earlier in the day.

Traders blamed the possibility of  additional U.S.-China tariffs after the upcoming meeting between Trump and Xi at the G20 summit in Buenos Aires. They also put the blame on the drop in tech shares. 

World Markets Headlines Today

Hong Kong shares slip amid China weakness (Nikkei Asian Review)
India: Sensex surges 300 points, Nifty above 10100, ICICI Bank shares surge 9%
Australia: Stocks shine in surprise surge (The Australian Business Review)

European shares seen slightly higher; UK budget and earnings in focus (CNBC)
European Shares To Open On Cautious Note Amid China Growth Woes (RTT News) 
European markets finished broadly higher today with shares in London leading the region (CNN Money)

U.S. Stocks Mixed as Technology Rally Fades (Bloomberg)
Stock-market bid to construct a rebound from last week’s rubble weakens (Marketwatch)
Dow Up Slightly as Stocks Limp Toward the End of the Month, Nasdaq Goes Negative (The Street)

Gold steadies as economic growth worries weigh on stocks, Oil falls as investors wary of trade slowdown (Reuters)

All Continents Stock Indices Closing Prices

Japan's Nikkei was down 0.16% and China's Shanghai Composite plunged 2.18% while Shenzhen's Composite slipped 2.45%. Seoul's KOSPI was off 1.53% while Australia's ASX200 advanced 1.11%.
Singapore's STI increased 0.32%. Jakarta's Composite finished the day 0.52% in the hole. Kuala Lumpur's KLCI ticked up 0.04%.Taiwan's Weighted Index was higher by 0.29%.

The Paneuropean STOXX600 was up 0.90%. France's CAC added 0.44%. London's FTSE climbed 1.25% and Amsterdam's AEX increased 0.37%. Belgium's BEL 20 grew 0.96%. Lisbon's PSI20 was higher by 0.56% while Spain's IBEX 35 advanced 1.04%. Italy's FTSE MIB rose 1.91%. In Russia, Moscow's IMOEX was up 1.04%. In Scandinavia, Stockholm's OMXS30 added 1.20% while Copenhagen's OMXC25 jumped 2.37%. Helsinki's OMXHPI fell 0.19%. Oslo's OBX finished the day 1.45% in the green.

In Central Eastern Europe, Budapest's BUX was higher by 0.48% while Warsaw's WIG was up 0.48%. Prague's PX jumped 2.29%. Bratislava's SAX was off 1.04%. Tallinn's OMXT was down 0.05% while Riga's OMXR grew 0.70%. In Vilnius, the OMXV increased 0.85%.

In Southeastern Europe, Bucharest's BET added 1.10%. Sofia's Sofix was up 0.46%. Belgrade's Belex15 fell 1.79%. Podgorica's MNSE10 was up 0.38%. Sarajevo's SASX10 was at 638.18 BAM and Banja Luka's BIRS dropped 0.13%. Ljubljana's SBI Top was down 0.83%. Zagreb's CROBEX fell 0.48%. Skopje's MBI10 grew 0.10%. Istanbul's stock exchange was closed for Republic Day holiday. In Athens, the General Index added 1.07% while in Nicosia grew 0.21%.

Dar Es Salaam's ASI was up 0.86%. Lusaka's ASI added 0.07% and Casablanca's ASI fell 0.39%. Malawi's ASI tumbled 3.68% and Nigeria's ASI rose 0.88%. Nairobi's ASI dropped 0.22%.  Uganda's ASI ticked down 0.01% and Zimbabwe's Industrial Index moved downward 0.91%.

In the U.S., the Dow Jones fell 0.99% and the S&P 500 lost 0.66%. The Nasdaq was down 1.63%. Canada's S&P/TSX Composite moved downward 1.12%. Mexico's IPC sank
4.20%. Brazil's Bovespa plunged 2.24%and Chile's IPSA declined 1.18%.

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