World stocks still treading water as the dollar gets soggy
European shares edge higher after sluggish start and China’s economy shows signs of stabilisation, with emerging markets show a late flurry
London — Signs of a stabilisation in China’s giant economy and a soggy dollar helped oil markets cement their best run for more than three years on Friday, though stocks weren’t buoyed much after spending most of the week treading water. There was a late flurry of activity, mostly from emerging markets. China’s data showing exports rebounded nicely last month helped offset weaker imports and reports in Europe of another cut to Germany’s growth forecasts, while Turkey’s lira was back on the ropes amid worries about its trajectory. The euro, however, gained despite the German growth concerns, and it wasn’t just going rogue, with dealers gearing up for demand from Japan as Mitsubishi UFJ Financial closed in on its multi-billion-euro buy of DZ Bank’s aviation finance business. Europe’s bourses slowly shook off another groggy start, as did Wall Street futures, which were limbering up for earnings from bulge-bracket banks JPMorgan and Wells Fargo. “The Chinese data was a little mixed but ...
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.