Market News & Analysis

Top Story

Welcome relief

The US decision to delay tariffs on some Chinese exports provided welcome relief for battered markets. In Europe, the DAX gained 0.60% despite economic data showing a collapse in German investor sentiment, and as growth fell on a slump in exports. The biggest gainer was the Italian FTSE MIB, which was up 1.36%, helped by a delay in deputy prime minister Salvini’s plans to call a general election.

London shares were lifted 0.33%, extending the gains made yesterday. Topping the FTSE 100 was insurance group Admiral, gaining 4.04% on news that its interim pre-tax profits rose 4%. Astra Zeneca gained 1.70% on news of positive results on its ovarian cancer drugs trials, and Vodafone gained 1.24%. The benchmark’s laggards included publisher Auto Trader and steel producer Evraz.

Improved sentiment

In Asia, Nikkei led the way, with a gain of 0.98%, while Kospi 200 gained 0.7% thanks to the energy and tech sectors. The Shanghai Composite was up 0.6%, and the Hang Seng was able to add 0.5%, despite the continuing confrontations between protestors and police.

The main US indices were all up, allowing a move back towards riskier assets, with car makers, tech companies and commodities the main beneficiaries.

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.