Global market report - March 18

World markets were in positive mood today, with strong gains in Chinese markets and investors looking ahead to the Federal Reserve meeting

James Gard 18 March, 2019 | 7:00PM

North America

 

US futures look relatively stable for Monday’s opening bell ahead of a busy week for global economics. The Federal Reserve’s meeting is the highlight of the calendar. Investors are expecting the Fed to signal one rate hike this year.

 

Boeing (BA) shares are under pressure again in pre-market trading as regulators scrutinise the 737 MAX 8 engine.

 

Europe

 

The potential merger of German giants Deutsche Bank (DBK) and Commerzbank (CBK) has dominated the European business pages today and nudged up both banks’ shares prices.

 

The British pound slipped as the Prime Minister faces yet another week of tense Brexit negotiations, and this gave support to the FTSE 100, which rose 47 points to 7,275 in midmorning trading.

 

The Bank of England meets this week, and is expected to keep interest rates on hold.

Asia

 

Chinese markets bounced back at the start of the new trading week, helped by a more positive global mood. Once again, the Shanghai Composite Index was the outstanding performer among Asia-Pacific markets, rising nearly 2.5% on Friday’s close to 3,096 points. Having breached 29,000 points last week, Hong Kong’s Hang Seng moved comfortably above this technical level with a gain of nearly 1.5% to 29,409 points.

 

Japan’s Nikkei was the worst performer in percentage terms, shedding nearly 2% on Friday’s close to 22,271 points.

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James Gard

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