Global markets gain some ground after dire week
China's main exchanges recouped almost half the 4% they lost in Friday's mauling as the country's central bank chief pledged more support
London — Talk of more stimulus from China helped world share markets regain some ground on Monday after a slew of concerning economic data and growth warnings from central banks triggered their worst weekly performance so far this year. China's main bourses made back almost half the 4% they lost in Friday's mauling as the country's central bank chief pledged more support, but not everywhere was so spritely. The pan-European STOXX 600 barely managed a 0.2% gain in early trade as an unexpected drop in German industrial data also kept the euro near a 20-month low and nudged bund yields back toward zero. London's FTSE made a more impressive 0.8% but that was partly the flip side of a near three-week low for the pound as the chances of Prime Minister Theresa securing support for her Brexit deal at home this week looked increasingly dim. Britain is due to leave the EU in 18 days. Kallum Pickering, an economist at Berenberg, said a delay to Brexit would be modestly positive for sterling as...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.