Global stocks rebound but trade war fears remainJuly 12, 2018 12:24pm

LONDON (AP) — Global stock markets recovered some of the previous day's losses Thursday as investors weighed up the latest developments on a possible global trade war.

KEEPING SCORE: In Europe, London's FTSE 100 rose 0.9 percent to 7,661 while Germany's DAX added 0.6 percent to 12,485. France's CAC 40 gained 0.8 percent to 5,389. On Wednesday, the CAC 40 and DAX both lost 1.5 percent while the FTSE 100 was off 1.3 percent. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 index were up 0.4 percent.

TRADE FOCUS: China's government said it will take "firm and forceful measures" if the Trump administration goes ahead with its threat of tariff hikes on an additional $200 billion of Chinese goods. President Donald Trump has threatened to raise duties on almost everything Americans buy from China. Beijing is running out of American goods for retaliatory tariffs due to its lopsided trade balance, which means it might impose other measures.

ANALYST TAKE: "While markets have typically reacted negatively to any escalation on trade, the overall impact has been relatively modest under the circumstances which suggests investors are far from panic mode right now," said Craig Erlam, senior market analyst at OANDA. "Many agree that tariffs will ultimately be bad for the global economy and therefore markets but there still seems to be some hope that common sense will prevail and a full blown trade war will be averted."

ASIA'S DAY: The Shanghai Composite Index rose 2.2 percent to 2,837.66 and Tokyo's Nikkei 225 gained 1.2 percent to 22,187.96. India's Sensex climbed 1 percent to 36,615.08 and Sydney's S&P-ASX 200 advanced 0.9 percent to 6,268.30. Hong Kong's Hang Seng gained 0.7 percent to 28,517.61 and Seoul's Kospi added 0.2 percent to 2,285.06. Benchmarks in Taiwan and Southeast Asia also advanced, while New Zealand declined.

ENERGY: Benchmark U.S. crude gained 54 cents to $70.92 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, gained 85 cents to $74.25 per barrel in London.

CURRENCY: The euro was up 0.1 percent at $1.1654 while the dollar rose 0.5 percent at 112.46 yen.

Page 1 of 1

More Stories Like This

In this July 12, 2018 photo, farmer Don Bloss, left, talks to his son Mark behind a grain truck on his farm in Pawnee City, Neb. Farmers and agricultural economists are worried that president Donald Trump’s trade, immigration and biofuels policies will cost farms billions of dollars in lost income and force some out of business. (AP Photo/Nati Harnik)
US trade, immigration and biofuel policies hit farmers hard
U.S. President Donald Trump and first lady Melania Trump wave as they prepare to board Air Force One before departing from London's Stansted Airport, Friday, July 13, 2018. (AP Photo/Pablo Martinez Monsivais)
AP FACT CHECK: Trump's Europe provocations and the facts
Russian President Vladimir Putin, right, shakes hands with French President Emmanuel Macron during their meeting in the Kremlin in Moscow, Russia, Sunday, July 15, 2018. (Yuri Kadobnov/Pool Photo via AP)
Russia on a high as World Cup wraps; Putin's problems remain
Rouhani: Iran continuing relations with world despite USIran's president says his country will continue its economic relations with the rest of the world despite more sanctions by the United States
FILE - In this March 12, 2014, file photo, a North Korean soldier, top center, looks at the southern side as three South Korean soldiers guard at the border village of Panmunjom, which has separated the two Koreas since the Korean War, in Paju, South Korea. U.S. and North Korean officials held "productive" talks Sunday, July 15, 2018, to discuss the return of U.S. service members' remains missing since the Korean War, U.S. Secretary of State Mike Pompeo said. (AP Photo/Lee Jin-man, File)
Pompeo: US, N. Korea hold 'productive' talks on war remains
Despite detente, sanctions on North Korea fan TB epidemicDespite post-summit detente, ongoing sanctions are keeping lifesaving medicines from North Korean tuberculosis patients and could fan a regional epidemic

Related Searches

Related Searches