Global Stock Markets Firm Up on Strong Economic Indicators

Global stock markets mostly turned higher on Tuesday, February 21 after surveys pointed to robust economic growth in Europe and Japan, regions that have stagnated in recent years.

Germany’s DAX advanced 0.6 percent to 11,895 while France’s CAC 40 rose 0.3 percent to 4,880. London’s FTSE 100 retreated 0.2 percent to 7,288.

On Wall Street, the future for the Dow was up 0.3 percent while that for the S&P 500 advanced 0.2 percent, suggesting gains after the markets were closed Monday for Presidents’ Day. Both had hit record highs on Friday.

A survey indicated that the economy of the 19-country eurozone is growing at its fastest pace in nearly six years.

The gauge of the manufacturing and services sectors for February showed both stronger business activity as well as better hiring. In Japan, a measure of manufacturing activity rose to its highest level since 2014. Both surveys showed inflation pressures growing, a welcome development for markets that have suffered dangerously low inflation or even falling prices in recent years.

Tokyo’s Nikkei 225 advanced 0.7 percent to 19,381.44 and the Shanghai Composite Index gained 0.4 percent to 3,253.33. Hong Kong’s Hang Seng retreated 0.8 percent to 23,963.63 while Sydney’s S&P-ASX 200 lost 0.1 percent to 5,791.00.

Seoul’s Kospi gained 0.9 percent to 2,102.93. Benchmarks in New Zealand, Malaysia and the Philippines also rose. India’s Sensex lost 0.1 percent to 28,645.52 while Singapore, Bangkok and Jakarta also declined.

 

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here