Global Equities Gain On Trade Deal, Chinese Data
Umer Jamshaid 1 month ago Sat 18th January 2020 | 08:50 AM
New York, (UrduPoint / Pakistan Point News - 18th Jan, 2020 ) :Global equities rose on Friday, with Wall Street stocks ending at fresh records, as solid Chinese economic data brightened the global outlook following the landmark US-China trade deal earlier in the week.
The gains have been fanned by the "phase one" trade agreement signed this week by the United States and China as well as signs of improvement in various economies, lower interest rates, government stimulus and easing Brexit concerns.
The prospect of a healthy batch of corporate earnings means there are hopes for further advances as well.
Analysts see few economic clouds on the horizon in the short term but worry that high stock valuations could prompt a selloff.
The six percent growth for October-December was the same as the previous quarter, and traders were cheered by a better-than-forecast rise in retail sales, industrial output and investment.
The slowdown in Chinese growth has been a major headache for investors for the past few years as the country's leaders struggle with the US trade war, slowing global demand and a worrying debt mountain.
- Key figures around 2200 GMT - New York - DOW: UP 0.2 percent at 29,348.10 (close) New York - S&P 500: UP 0.4 percent at 3,329.62 (close) New York - Nasdaq: UP 0.3 percent at 9,388.94 (close) London - FTSE 100: UP 0.9 percent at 7,674.56 points (close) Frankfurt - DAX 30: UP 0.7 percent at 13,526.13 (close) Paris - CAC 40: UP 1.0 percent at 6,100.72 (close) EURO STOXX 50: UP 0.9 percent at 3,808.26 (close) Tokyo - Nikkei 225: UP 0.5 percent at 24,041.26 (close) Hong Kong - Hang Seng: UP 0.6 percent at 29,056.42 (close) Shanghai - Composite: UP 0.1 percent at 3,075.50 (close) Euro/dollar: DOWN at $1.1093 from $1.1137 at 2200 GMT Pound/dollar: DOWN at $1.3010 from $1.3080 Euro/pound: UP at 85.27 pence from 85.15 pence Dollar/yen: DOWN at 110.12 Yen from 110.16 yenBrent Crude: UP 0.4 percent $64.85 per barrelWest Texas Intermediate: UP less than 0.1 percent at $58.54 per barrel.