Markets push ahead as central bankers ready to meet
london — Global stock markets were solid on Thursday as investors awaited speeches by the world’s top central bankers at Jackson Hole, Wyoming.
In Europe, Britain’s FTSE 100 rose 0.5 per cent to 7,420. France’s CAC 40 advanced 0.2 per cent to 5,123 while Germany’s DAX was up 0.3 per cent at 12,222. Wall Street was headed for a solid opening with Dow futures and the broader S&P 500 futures up 0.2 per cent.
Federal Reserve Chair Janet Yellen and other central bankers will assess the global economy at this week’s annual conference in Jackson Hole, Wyoming. Yellen and European Central Bank President
Financial assets are trading in very tight ranges, and I expect such moves to continue
Hussein Sayed, Chief market strategist at XFXTM
Mario Draghi were due to speak on Friday. No major policy changes were anticipated but traders remain cautious.
“Financial assets, whether it’s equities, currencies, or fixed income, are trading in very tight ranges, and I expect such moves to continue throughout the day,” said FXTM chief market strategist, Hussein Sayed. “With the lack of tier one economic data, investors are bracing for some hints from the annual central bank gathering at Jackson Hole.”
Asian markets finished mixed. Japan’s Nikkei 225 slipped 0.4 per cent to 19,353.77 but South Korea’s Kospi rose 0.4 per cent to 2,375.84. Hong Kong’s Hang Seng index advanced 0.4 per cent to 27,518.60 while the Shanghai Composite Index fell 0.5 per cent to 3,271.51. Australia’s S&P ASX 200 added 0.1 per cent to 5,745.50. Stocks in Southeast Asia were mixed.
The euro was down 0.1 per cent at $1.18 while the dollar rose 0.3 per cent to 109.39 yen. — AP