Sun, 26 May 2019

Global stock markets fall in unison

By Jay Jackson, Johannesburg News
11 Nov 2018, 05:20 GMT+10

LONDON, UK Global stock markets fell in unison on Friday with most bourses in key capitals losing ground. Only the German Dax managed a gain, and that was less than 2 points.

In London the FTSE 100 fell 35.34 points or 0.49% to 7,105.34.

The Paris-based CAC 40 declined 24.70 points or 0.48% to 5,106.75.

The German Dax fell 1.84 points or 0.02% to 11,529.16.

In Asia, the worst performer was the Hong Kong Hang Seng. It shed 625.80 points or 2.39% to 25,601.92.

The best performer was the Australian All Ordinaries which finished down just 4.90 points or 0.08% to 6,011.00.

In Japan, the Nikkei 255 fell 236.67 points or 1.05% to 22,250.25.

Chinas Shanghai Composite fell 36.76 points or 1.39% to 2,598.87.

Later, Wall Street kicked in and continued the rout. On Friday the Dow Jones industrials closed down 201.92 points or 0.77% at 25,989.30.

The Standard and Poors 500 dropped 25.82 points or 0.92% at 2,781.01.

The tech-laden Nasdaq Composite did worst of all, declining 123.98 points or 1.65% to 7,406.90.

The foreign exchange markets had a volatile time towards the end of the week after weeks of stability. The U.S. dollar firmed against most countries although the dollars of Australia and New Zealand countered with strength of their own.

By the close of trading for the week in New York, the euro was changing hands at 1.1340. The British pound, after a roller coaster ride through the week, ended at 1.2969.

The Japanese yen weakened to 113.79, while the Swiss franc and Canadian dollars were quoted at 1.00535 and 1.32035 respectively.

The Australian dollars continued their recent bout of strength, finishing short of their highs but much improved on the previous week. The Australian dollar finished at 0.7227 and the New Zealand dollar at 0.6737.

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