Relief rally for global markets

by | Sep 11, 2017

A lack of any further North Korean missile launches over the weekend was one of the reasons Asian markets rallied today, with a rebound upwards for the TOPIX (+1.17%), SSE Shanghai Composite (+0.33%) and ASX200 (+0.71%).

The NIFTY50 index in India held above the key 10,000 mark at the close, helped by Tata Motors (+0.60%) amongst other stocks.

European markets went higher still, with the French CAC40 (+1.22%) rising sharply in early trading. The CAC had a weak performance throughout the summer,(-3.75% between the beginning of June and the end of August). However, this contrasts with the solid half-yearly results published by companies of the index. They have risen by 22.2% compared to the first six months of 2016, to 50.2 billion euros, according to calculations carried out by PwC.

The downgrade of Hurricane Irma in the United States has also provided some relief to markets, as well as fears subsiding over North Korea for the time being. On Wall Street this morning we are witnessing a relief rally, with the S&P500 (+0.91%), Nasdaq (+0.96%) and Dow Jones (+1.04%) progressing upwards nicely in early trading. The share price of Apple (+1.63%) got a boost a day ahead of the expected launch of its new iPhone 8, which helped to lift the S&P. Tech stocks Nvidia (+2.79%) and Netflix (+2.68%) also performed strongly.  

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