Main Menu

Markets

China-US talks help lift global markets

ChinaGlobal stock markets took some comfort on Friday from the prospect of trade talks between the US and China later this month.

Friday’s upturn followed a week of turbulence prompted by the economic crisis in Turkey which saw investors flee into safer stocks.

The FTSE 100 ended the day flat at 7,558.59 points, near a four-month low, and sealed its worst weekly loss in five months with a 1.4% decline.

On Wall Street the Dow Jones closed 0.46% ahead, the S&P gained 0.33% while the tech-heavy Nasdaq rose 0.13%.

The swing towards a more positive mood came as China ‘s Vice Minister of Commerce Wang Shouwen agreed to meet US. representatives next week, and the Shanghai composite index rose 0.16%.

However, analysts remained wary of any significant change in President Trump’s hardline policy.

Markets continue to be edgy following the diplomatic rift between Turkey and the US which has seen a plunge in the Turkish lira and a shift in funds from emerging markets to developed markets.

The lira saw a 25% bounce to 5.815 per dollar, despite threats of more sanctions from Washington.

 

 

.



Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.