global markets mostly advance as dealers return from holiday
Last Updated : GMT 09:07:40
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Last Updated : GMT 09:07:40
Egypt Today, egypt today

On a Federal Reserve meeting

Global markets mostly advance as dealers return from holiday

Egypt Today, egypt today

Egypt Today, egypt today Global markets mostly advance as dealers return from holiday

The Federal Reserve's latest policy meeting will be pored
London - Arab Today

Most European and Asian markets advanced Tuesday as investors returned  from a long holiday weekend, with eyes now on a Federal Reserve meeting and the release of US jobs data later in the week.

Another record close Monday on Wall Street's Nasdaq index provided some early buying impetus, while there was relief that lawmakers in Washington had finally hammered out a deal to avoid a costly shutdown of the US government.

In late morning European deals, London gained 0.5 percent, Paris added 0.4 percent and Frankfurt won 0.2 percent in value.

In Asia, Tokyo fizzed 0.7 percent higher, with a weaker yen boosting exporters. The greenback is pushing back above 112 yen, having fallen last month on worries about Donald Trump's ability to push through his pro-growth agenda.

Hong Kong rose 0.3 percent and Seoul added 0.7 percent by the close.

Meanwhile, Shanghai slipped 0.4 percent after official data at the weekend showed the pace of growth in China's factory activity slowed last month. A separate private reading on Tuesday revealed activity at its slowest pace in seven months.

There was some disappointment in figures last week showing that growth in the US, British and French economies all came in below expectations, dealers said.

Traders were however given a positive lead from Wall Street, where the Nasdaq ended at another record high, while Trump looked to ease tensions with North Korea by saying he would be "honoured" to meet the country's leader Kim Jong-Un under the right circumstances.

- Fed-watching ahead -

Attention turns now to the Fed's policy meeting Wednesday. While the central bank is expected to hold off on another interest rate rise, its statement will be pored over for clues about plans for the future. 

The gathering will be followed by Friday's release of job creation figures, which will give a better snapshot of the state of the world's top economy.

Banking shares were mixed after Trump said in an interview that he was reviewing a possible breakup of large US banks.

He told Bloomberg News he was considering a "21st century" version of the 1933 Glass-Steagall law that separated consumer lending and investment banking and was repealed in 1999 by President Bill Clinton.

"I'm looking at that right now," Trump said. "There's some people that want to go back to the old system, right? So we're going to look at that."

However, the Trump administration has not released details about what an eventual breakup plan might look like. 

- Key figures at 1100 GMT - 

London - FTSE 100: UP 0.5 percent at 7,238.43 points

Frankfurt - DAX 30: UP 0.2 percent at 12,460.85

Paris - CAC 40: UP 0.4 percent at 5,288.27

EURO STOXX 50: UP 0.2 percent at 3,567.26

Tokyo - Nikkei 225: UP 0.7 percent at 19,445.70 (close)

Hong Kong - Hang Seng: UP 0.3 percent at 24,696.13 (close)

Shanghai - Composite: DOWN 0.4 percent at 3,143.71 (close)

New York - Dow: DOWN 0.2 percent at 20,940.51 (close)

Euro/dollar: UP at $1.0917 from $1.0900 

Pound/dollar: UP at $1.2892 from $1.2888 

Dollar/yen: UP at 112.16 yen from 111.82 yen

Oil - Brent North Sea: UP 31 cents at $51.83 per barrel

Oil - West Texas Intermediate: UP 16 cents at $49.00

Source: AFP

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global markets mostly advance as dealers return from holiday global markets mostly advance as dealers return from holiday



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