WORLD FI­NAN­CIAL MAR­KETS

Texarkana Gazette - - MARKET REPORT -

TOKYO—Stock mar­kets were mixed Thurs­day, with Europe mostly fall­ing but Asian shares ad­vanc­ing, as in­vestors digest bank earn­ings and a lack of progress in Brexit talks.

KEEP­ING SCORE: France’s CAC 40 lost 0.3 per­cent to 5,347 while Ger­many’s DAX slipped 0.1 per­cent to 12,962. Bri­tain’s FTSE 100 rose 0.4 per­cent to 7,560 mainly due to a drop in the pound. U.S. shares were set to drift lower with Dow fu­tures inch­ing down 0.1 per­cent and S&P 500 fu­tures 0.2 per­cent lower at 2,549.

BREXIT: The Euro­pean Union’s Brexit ne­go­tia­tor said that talks with Bri­tain about its de­par­ture had made no sig­nif­i­cant progress. The sides are dis­cussing the coun­try’s di­vorce is­sues, in­clud­ing its exit bill, be­fore mov­ing onto fu­ture trade re­la­tions. The com­ments weighed on the pound, which was down 0.6 per­cent at $1.3146. That au­to­mat­i­cally pushes up the FTSE 100, which is dom­i­nated by global com­pa­nies whose rev­enue out­side the U.K. is boosted by a fall in the pound.

EARN­INGS: JPMor­gan Chase said its third-quar­ter prof­its rose 7 per­cent as it was able to in­crease rev­enue in con­sumer bank­ing even though it set aside ad­di­tional funds to cover bad loans. The re­sults beat an­a­lysts’

ex­pec­ta­tions. Cit­i­group earn­ings are due later.

ASIA’S DAY: Ja­pan’s bench­mark Nikkei 225 added 0.4 per­cent to fin­ish at 20,954.72. Aus­tralia’s S&P/ASX 200 gained 0.4 per­cent to 5,794.50. South Korea’s Kospi rose 0.7 per­cent to 2,474.76. Hong Kong’s Hang Seng ad­vanced 0.3 per­cent to 28,472.66, while the Shang­hai Com­pos­ite dipped 0.1 per­cent to 3,386.10.

JA­PAN RALLY: Ja­pan’s Nikkei 225 in­dex has closed at 21 year highs over the past few days, lifted by op­ti­mism over the lat­est eco­nomic data and an­tic­i­pa­tion of strong cor­po­rate re­sults in the up­com­ing quar­terly re­port­ing pe­riod. Ex­pec­ta­tions are ris­ing that an Oct. 22 na­tion­wide elec­tion for the more pow­er­ful lower house of Par­lia­ment will re­in­force a strong ma­jor­ity for Prime Min­is­ter Shinzo Abe’s rul­ing Lib­eral Democrats, who fa­vor tax cuts for cor­po­ra­tions.

EN­ERGY: Bench­mark U.S. crude oil lost 80 cents to $50.50 a bar­rel. It rose 38 cents to $51.30 a bar­rel overnight in New York. Brent crude, used to price in­ter­na­tional oils, fell 74 cents to $56.20 a bar­rel in Lon­don.

CUR­REN­CIES: The dol­lar was lit­tle changed, at 112.26 yen. The euro rose to $1.1861 from $1.1819.

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