Global Stocks Rise With U.S.-China Trade Talks in Focus
11 Febbraio 2019 - 10:24AM
Dow Jones News
By Akane Otani
Global stocks mostly rose Monday as traders await the upcoming
round of trade negotiations between the U.S. and China.
The Stoxx Europe 600 advanced 0.6%, lifted by the performance of
shares in commodity and technology companies.
Asian stocks were mixed, with the Shanghai Composite rallying
after reopening for the Lunar New Year holiday and indexes in
Australia and India ending lower.
Investors are set for the latest round of trade talks between
Washington and Beijing, with U.S. trade representative Robert
Lighthizer and Treasury Secretary Steven Mnuchin expected to arrive
in the Chinese capital sometime on Monday.
The talks could spark fresh volatility for financial markets.
Stocks rose in January on fresh hopes that the U.S. and China would
be able to carve out a trade deal, but some of that optimism
appeared to lose steam last week as investors parsed a stream of
downbeat economic data.
"There's this belief that this is going to very quickly resolve
itself, and I think the reality is that there are very complicated
long-term issues on the trade relationship between the two most
powerful economies around the world," said Jonathan Golub, chief
U.S. equity strategist at Credit Suisse.
While economic growth in the U.S. still looks relatively steady,
Mr. Golub cautioned that an unexpected breakdown in trade talks
remain a major market risk.
"I'm actually quite optimistic about the broad backdrop -- but
that doesn't mean that there's no risk," he said.
Corporate news drove swings in individual stocks on Monday.
Gold miner Acacia Mining jumped 2% after breaking out to a
profit in 2018, while Portuguese natural gas firm Galp Energia fell
0.7% after reporting worse-than-expected revenue for 2018.
Later Monday, investors are expected to get earnings reports
from Loews and Restaurant Brands, the parent company of Burger
King, Tim Hortons and Popeyes.
U.S. stock futures pointed to a subdued opening, with S&P
500 futures inching down less than 0.1% and Dow Jones Industrial
Average futures losing 0.1%. Changes in futures don't necessarily
reflect moves after the opening bell.
Elsewhere, the Shanghai Composite jumped 1.4% to a two-month
high, while Japan's Nikkei Stock Average was shut for a holiday and
Hong Kong's Hang Seng rose 0.6%.
In commodities, Brent crude, the global benchmark, fell 0.4% to
$61.89 a barrel, chipping away at some of its previous session's
gains.
Write to Akane Otani at akane.otani@wsj.com
(END) Dow Jones Newswires
February 11, 2019 04:09 ET (09:09 GMT)
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