Market moving news daily roundup – events & news likely to move markets 12th August 2019
Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad.
Market moving news roundup, 12th August 2019
Summary
After last weeks unpredictable and volatile markets – are we in for a quieter time this week?
Market news update
Asian markets mixed. Japan’s NIKKEI closed for a holiday. FTSE 100 opens up at 7297. Thomas Cook shares fall on news of raising more ‘new’ capital – shareholders stakes likely to be diluted.
British Retail Consortium (BRC) figures show high street shopping still under significant pressure.
Profits fall at Aramco, Saudi Arabia’s state-owned oil giant in the first half of its financial year compared to last year due to falling oil prices.
Huawei launches new Smart TV, its first product with its own operating system. Huawei announced its own operating system to challenge Google’s Android last week
Retail bright spot – fishing equipment and tackle retailer, Angling Direct has reported a big increase in sales.
Tullow Oil shares climb after big oil find in Guyana. Sterling remains weak still, but edges higher in early trade. Hong Kong Airport cancels flights as anti government protests worsen – airport closes. Hang Seng futures fall.
UK – Ten year fixed term mortgage
Ten year fixed rate mortgage becoming more common. The collapse of Italy’s ruling coalition creates political uncertainty and weakens the Euro. Sterling climbs against the Euro.
Argentina – stocks and bonds fall
Conservative Argentine President Mauricio Macri suffered a resounding defeat to his left wing rival Alberto Fernández. Argentina’s bonds are in freefall and the peso is down against the U.S. dollar. Argentine peso is down around 30%. Argentine stocks suffer dramatic fall.
Prolonged trade war
Concerns of a prolonged U.S. – China trade war have dragged down Wall Street at the open – the Dow Jones fell 117 pts to 26169 pts. Dow closed down nearly 400 pts on the day. Treasury yields fall reflecting worries about the economic outlook and geopolitical concerns.
Are Hong Kong protests more or as serious than US-China trade war for global markets? How will China react? Could it have serious global implications?
South Korea & Japan trade dispute
In a tit-for-tat response, South Korea has now said it will take Japan off its favoured trade partners list. A direct retaliation to Japan’s decision earlier this month to do the same to South Korea.
FTSE 100 down
The FTSE 100, after a stronger start, ends the day down at around 7,226 pts.
Gold pushes higher – holds above $1,500. Unrest in Asia weighs on global markets – (Hong Kong riots and China – U.S. trade war tensions remain focus).
Economic news events scheduled for today
Stock market indices update, August 12th 2019 – Closing positions of: FTSE 100, DAX, DOW, S&P 500, NASDAQ, NIKKEI & GOLD
I trade these indices on a regular basis
FTSE 100 – closed down at: 7227
DAX – closed down at: 11679
DOW – closed down at: 25898
S&P 500 – closed down at: 2883
NASDAQ – closed down at: 7863
NIKKEI – closed down at: 20455
GOLD – closed at around: $1,504
Key: Green highlight markets move up. Red highlight markets move down.
All values rounded.
End