World Markets Turn Choppy

LONDON, Nov 1, (UrduPoint / Pakistan Point News - 01st Nov, 2016 ) - World stock markets wobbled Tuesday in choppy trade as investors eyed bright Chinese data, mixed company results and uncertainty over the US presidential race, dealers said.

Better-than-expected economic data from China buoyed the mining sector because the Asian powerhouse is a leading consumer of many metals. "Equity markets are making a positive, yet choppy start to the new month," said Mike van Dulken, head of research at trading firm Accendo Markets.

"The commodity space remains supported by rising metals prices and positive China data," he added, noting that weak oil prices and mixed results had rattled the energy sector. "Sideways markets suggest traders remain jittery given the event risk that lies ahead -- Federal Reserve, Bank of England, US election -- and with major equity indices still so close to their highs." The US Federal Reserve will unveil its latest monetary decision on Wednesday, followed by the Bank of England on Thursday.

Investors are also eagerly following the latest twists and turns in the US presidential election to be held on November 8, with Republican presidential nominee Donald Trump edging ahead of Democratic rival Hillary Clinton by one point for the first time since May, an ABC News/Washington Post tracking poll out Tuesday has found.

Trump's 46-45 percent lead in the four-way race for the White House, while well within the margin of error, possibly reflected the renewed controversy over Clinton's use of a private email server while secretary of state.

Globally, investor confidence remains fragile after Friday's bombshell news that the FBI was investigating additional emails connected to Clinton, Wall Street's preferred candidate. "With just a week to go until the US election, and a Federal Reserve meeting tomorrow night, the Dow Jones may struggle to do much of anything this Tuesday," noted Spreadex analyst Connor Campbell.