"Equity markets were in ebullient mood last week with global equities gaining 1.9% and 2.5% in local currency and sterling terms respectively. China and the UK fared best with rises of 4.4% and 3.2% in sterling terms while Europe lagged with a gain of 1.7%. These latest gains mean global equities have now more than recouped their wobble earlier in the month and bring their year-to-date local currency and sterling returns up to an impressive 18.6% and 14.1%."
"Tariffs reared their head again with Trump suspending trade negotiations with Canada and launching a new investigation into Chinese trade practices. But the real news occurred this weekend with China and the US agreeing the framework for a trade deal which looks likely to be signed off by Presidents Trump and Xi at their meeting on Thursday. Less positive but much less significant, the US raised tariffs on Canada by 10%."
Global equities rose strongly last week, gaining 1.9% in local currency and 2.5% in sterling, with China and the UK outperforming and Europe lagging. Year-to-date returns reached 18.6% in local currency and 14.1% in sterling. Asian markets climbed 1–2% on positive US-China trade news while European openings were modest. Global macro signals were mildly positive. US data remained limited because of the government shutdown, but September headline and core inflation both printed 3.0%, reinforcing expectations of a 25bp US rate cut next Wednesday. Business confidence improved in the US, Europe, and UK in October. Tariff actions included a 10% tariff increase on Canada and a US-China framework agreement that should extend the trade truce for months, though tensions remain.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]