Markets Rise On Optimism Over Trade Talks 16 Apr 2019
Global stock markets mainly rose Tuesday on optimism over trade talks between Beijing and Washington, with earnings results also heartening investors
"Firmer property prices in China combined with continued optimism surrounding the US-China trade talks drove Chinese stocks higher. The bullish sentiment spilled over to Europe." Asian equities rose, on the eve of vital Chinese first-quarter economic growth data, as investors brushed off a weak lead from Wall Street on Monday.
Wall Street rose at the opening bell, with corporate performance cheering investors.
Johnson & Johnson shares climbed 1.6 percent after reporting a 3.9 percent increase in operating revenue in the first quarter, far outpacing its earlier forecast for a nearly stagnant 2019.
A closely-watched German measure of investor confidence has clambered back into positive territory, data showed Tuesday, pointing to a brighter outlook.
- Key China data looms - Investor focus turns now to China's economic growth figures on Wednesday, which come after a number of upbeat readings on the world's number two economy -- including factory activity, inflation, new loans and trade -- that have given some cause for optimism.
"China has implemented a huge amount of stimulus into the economy more recently to deal with the impact of trade wars and a general synchronised slowdown," said analyst Sam Buckingham at Thomas Miller Investment.
"We are starting to see the positive signs of this stimulus showing up in some of the country's soft data series.
"If the hard data, such as GDP growth, does not follow this same path and in fact undershoots expectations, we would expect volatility, i.e. fear, to increase in financial markets." - Key figures around 1330 GMT - London - FTSE 100: UP 0.6 percent at 7,481.25 points Frankfurt - DAX 30: UP 0.7 percent at 12,107.06 Paris - CAC 40: UP 0.3 percent at 5,523.07 EURO STOXX 50: UP 0.3 percent at 3,462.19 New York - Dow: UP 0.5 percent at 26,509.37 Pound/dollar: DOWN at $1.3059 from $1.3100 at 2100 GMT on Monday Euro/pound: UP at 86.52 pence from 86.30 pence Euro/dollar: DOWN at $1.1299 from $1.1304 Dollar/yen: DOWN at 111.98 Yen from 112.04 yen Tokyo - Nikkei 225: UP 0.2 percent at 22,221.66 (close) Hong Kong - Hang Seng: UP 1.1 percent at 30,129.87 (close) Shanghai - Composite: UP 2.4 percent at 3,253.60 (close) Oil - Brent Crude: DOWN eight cents at $71.10 per barrelOil - West Texas Intermediate: UP eight cents at $63.48