Global market report - March 25

Japan fell sharply on Monday but European shares were more resilient ahead of an expected weaker open for US markets today

James Gard 25 March, 2019 | 7:00PM

North America

 

US markets look to continue their slide at the open on Monday, particularly with Asia nursing heavy losses to start the week.

 

US consumer confidence is due on Tuesday for March, as well as the third estimate of fourth-quarter GDP on Thursday.

 

Mexico is expected to hold overnight interest rates at 8.25% this week.

 

Europe

 

Markets were weaker, in line with the global trend, but losses were not as significant in percentage terms as those seen in Asia. As the morning progressed, Eurozone exchanges nudged into positive territory.

 

The British pound was relatively stable as Prime Minister faces another crucial week trying to keep her Brexit vision intact. Reports of her imminent demise appear to have been exaggerated, for now, but a number of different scenarios are in play this week that could derail the pound’s recent recovery.

 

The FTSE 100 staged a small rebound this morning and it’s now trading around 7,200 points, little changed on Friday’s close.

Asia

 

Japanese shares dived on Monday as Asia-Pacific caught up with Wall Street’s weakness on Friday.

 

The Nikkei 225 lost 650 points on the day, or just over 3%, to close at 20,977 points. Still, the index is up over 1,400 since the start of the year.

 

China’s Shanghai Composite Index lose nearly 2% on Friday’s close, but still remained above the key technical level of 3,00 points.

 

Hong Kong’s Hang Seng index was also off around 2% on the previous close.

 

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James Gard

James Gard  James Gard is subeditor for Morningstar.co.uk.