• MTS Futures News_PM_20181019

    19 Oct 2018 | SET News

·       European stocks were slightly higher Friday morning, as investors monitored a flurry of third-quarter corporate results.

The pan-European Stoxx 600 was up around 0.2 percent during mid-morning deals, with most sectors and major bourses in positive territory.

while weak results from Michelin and Bouygues reignited investors’ concerns about autos and construction stocks.

Shares in tire maker Michelin (MICP.PA) tumbled 5.6 percent after it cut its sales outlook and downgraded its tire market growth forecasts, blaming slowing Chinese car demand and new emissions testing regulations.

French conglomerate Bouygues (BOUY.PA) fell 6.5 percent to the bottom of the CAC 40 after it cut its profit outlook due to difficulties in its construction businesses.

·       Asian stocks clawed back losses on Friday as China’s efforts to bolster investor confidence helped its share markets rally, although data showing the world’s second-largest economy growing at the slowest pace since 2009 capped broader gains.

The MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 percent after earlier falling as much as 0.9 percent ahead of the release of China’s latest GDP reading.

As the Asian day wore on, investors in China shrugged off data showing that China’s economy grew 6.5 percent in the third quarter, its weakest pace since2009 and below expectations, as a campaign to tackle debt risks and the trade war with the United States weighed on the economy.

·       Japan’s Nikkei ended the week on a sour note on Friday, booking its third straight week of decline after tracking broader overnight losses on Wall Street and Europe.

The Nikkei share average at one stage dropped almost percent to hit a six-week low of 22,212.57. By the closing bell, it was down 0.56 percent at22,532.08.

·       Chinese stocks bounced on Friday, erasing recent losses after regulators pledged steps aimed at calming markets and supporting struggling firms, as Beijing moved to mitigate rising risks to the economy.

Official data earlier in the day underscored weakness in the economy during a worsening trade war with the United States. Gross domestic product grew 6.5percent year-on-year in the third quarter, below expectations and the weakest quarterly pace since the first quarter of 2009.

China’s blue-chip CSI300 index ended the day up 2.97 percent and the Shanghai Composite index rose 2.58 percent after dipping to near four-year lows.



Reference: Reuters, CNBC,DailyFX
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