ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Syrma SGS Technology IPO: Issue filled 37% on Day 1; should you subscribe? Anil Singhvi suggests this
  • Samsung Galaxy Z Fold 4, Galaxy Z Flip 4 price in India revealed - Pre-booking, offers and specifications
  • Har Ghar Tiranga campaign: Over 30 crore National Flags sold; CAIT says business worth Rs 500 crore generated
  • Atal Bihari Vajpayee death anniversary: Remembering the poet Prime Minister of India
  • From Rakesh Jhunjhunwala's portfolio: 5 Tata Group stocks that made him ace investor
Read in App
Business News » World News

Global Markets: World stocks make cautious gains ahead of key Brexit summit

Global Markets: Asian stocks and Wall Street futures inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the EU.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Global Markets: World stocks make cautious gains ahead of key Brexit summit
MSCI`s broadest index of Asia-Pacific shares outside Japan was up 0.01%. Australian shares were up 0.12%, while Japan`s Nikkei stock index rose 1.38%. Photo: Reuters

Global Markets: Asian stocks and Wall Street futures inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week. MSCI`s broadest index of Asia-Pacific shares outside Japan was up 0.01%. Australian shares were up 0.12%, while Japan`s Nikkei stock index rose 1.38%.

Capping the broader gains, however, was a perceived lack of progress coming out of U.S.-China trade negotiations. Reports of a "Phase 1" trade deal between the United States and China last week had earlier cheered markets but the dearth of details around the agreement has since curbed this enthusiasm with oil prices extending declines and the safe-haven yen holding gains versus dollar.

See Zee Business Live streaming below:

The focus has now shifted to Europe where officials from Britain and the EU will meet at a make-or-break summit on Thursday and Friday that will determine whether or not Britain is headed for a so-called no-deal Brexit.

"Given the parliamentary intervention, I would say the chance of a no-deal Brexit is around 10% to 20%," said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors in Sydney.

"If there is a deal, sterling would rally and risk assets would rally, but the reaction could be limited to a day."

U.S. stock futures rose 0.19% on Tuesday in Asia after the S&P 500 ended 0.14% lower.

Traders, however, cautioned that sentiment remains fragile because the outcome of Brexit talks is far from certain and the U.S.-China trade war remains a risk to global growth.

British Prime Minister Boris Johnson wants to strike an exit deal at an EU summit on Thursday and Friday to allow an orderly departure on Oct. 31.

The main sticking point remains the border between EU member Ireland and Northern Ireland, which belongs to the UK. Some EU politicians have expressed guarded optimism that a deal can be reached.

However, diplomats from the EU have indicated they are pessimistic about Johnson`s proposed solution for the border and want more concessions.
In the currency market, sterling held steady at $1.2608, below a three-month high of $1.2708.

The yen , often considered a safe haven in times of economic uncertainty, edged higher to 108.40 per dollar.

A perceived lack of progress in resolving a prolonged trade row between the United States and China also weighed on investor confidence.

The United States agreed to delay an Oct. 15 increase in tariffs on Chinese goods while Beijing said it would buy as much as $50 billion of U.S. agricultural products after tense negotiations last week.

However, the United States has left in place tariffs on hundreds of billions of dollars of Chinese goods.

Trade experts and China market analysts say chances are high that Washington and Beijing will fail to agree on any specifics - as happened in May - in time for a mid-November meeting between Trump and Chinese President Xi Jinping.

U.S. crude dipped 0.22% to $53.47 following a 2% decline overnight due to worries that global energy demand will remain weak.

Brent crude also fell 0.29% to $59.18 per barrel.

By early last week, hedge funds had become the most bearish towards petroleum prices since the start of the year, according to an analysis of position records published by the U.S. Commodity Futures Trading Commission and ICE Futures Europe.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Wall StreetDow JonesNasdaqNikkeiKospiHang SengShanghai Composite IndexMarkets
Written By: Reuters
Updated: Tue, Oct 15, 2019
08:47 am
New Delhi, Reuters
RELATED NEWS
Asian stocks track Wall Street gains ahead of U.S. payroll data Asian stocks track Wall Street gains ahead of U.S. payroll data
Wall Street sees biggest intraday fall since 2020 on Fed stance; SGX Nifty hints at negative opening for Indian market, drops over 200 points Wall Street sees biggest intraday fall since 2020 on Fed stance; SGX Nifty hints at negative opening for Indian market, drops over 200 points
Wall Streets ends down, oil gains as Powell suggests aggressive Fed policy Wall Streets ends down, oil gains as Powell suggests aggressive Fed policy
Gold set for weekly gain as Ukraine, inflation lift appeal Gold set for weekly gain as Ukraine, inflation lift appeal
Stocks lose steam, bond markets suggest pain ahead for U.S. economy Stocks lose steam, bond markets suggest pain ahead for U.S. economy

LATEST NEWS

Covid-19: Only 17% people received precaution dose; Centre asks states to hold vaccination camps at stations, religious sites

Opening Bell: Markets open higher amid positive global cues; Nifty above 17,850, Sensex adds 100 points

ONGC share price drops 2.5% despite highest Q1 net profit – What brokerages recommend

Hospitals overcharging for treatment to be a thing of past; IRDAI’s health insurance portal to curb this menace

EPFO Forms list: settlement/withdrawal, pension, transfer or nomination – 5 types of forms for different needs

Sensex reclaims 60,000, Nifty sits above 17,900 first time after 4-month; NTPC, Bajaj Finance, Bajaj Finserv top gainers

Bihar Cabinet Expansion: Ministers List 2022 New - Names, ministries, portfolios - All details of RJD, JDU, HAM, Congress members

Apple iPhone 14 Pro Max color options leaked? All you need to know ahead of September launch

SpiceJet settles agreement with aircraft lessor Goshawk Aviation, affiliates

Your ITR return can get cancelled without verification – full details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV