Dollar strength looms large over global markets, as the yen remained week and a number of emerging Asian markets currencies hit multi-year lows.
Japanese stocks were basically the standout in the Asian session as exporters benefited from the weaker yen. The Topix was up 0.9 per cent. Other equities benchmarks were weaker or subdued at best: Australia’s S&P/ASX 200 closed flat, Hong Kong’s Hang Seng was down 0.3 per cent and China’s Shanghai Composite was up by one-quarter of 1 per cent.
Solid US economic data boosted the dollar index on Wednesday, but the greenback was flat in late Asian trade. Still, the euro was down 0.1 per cent at $1.0548 the pound was down 0.1 per cent at $1.2436. Futures tip London’s FTSE 100 to rise 0.1 per cent.
European companies news today includes: Rémy Cointreau Q3, Monte dei Paschi meeting. UK companies reporting include: Severn Trent, Countrywide, Mothercare, HSS Hire, Pets at Home, Hornby.
Today’s economics calendar is pretty full, with a little bit of something for everyone (London times):
- 07.00: German GDP final reading
- 07.45: French business and manufacturing confidence
- 08.00: Sweden confidence
- 08.00: Spain GDP
- 09.00: Ifo Germany
- 09.00: ECB financial stability review
- 09.30: BBA mortgage approval
- 11.00: Turkey rates
- 12.00: GFK consumer confidence Germany
- South Africa’s interest rate decision is due today