Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

Global Stocks Waver as Trade War Weighs on Chinese Exports

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/09/2019 | 05:20am EST

By Paul J. Davies

Global stocks began the week with tepid declines as fresh economic data showed a sharp decline in Chinese exports to the U.S., highlighting the impact of the trade war between the world's two largest economies.

Futures tied to the S&P 500 index edged down about 0.1% following a rise Friday after a surprisingly upbeat monthly jobs report signaled strength in the U.S. economy. The Stoxx Europe 600 ticked down 0.2% Monday, while the Shanghai Composite Index ended the day up less than 0.1%.

China's exports unexpectedly dropped 1.1% in November from a year earlier, while shipments to the U.S. fell 23%, data from the General Administration of Customs showed Sunday. Uncertainty about the trade talks between the two nations has weighed on global trade and the economic outlook for much of this year, and made markets jittery.

With a new round of tariffs poised to go into effect Sunday on imports from China, a commerce ministry official said Monday that China hopes trade negotiations with the U.S. will result in a "satisfactory" outcome as soon as possible. Some analysts expect Mr. Trump to delay imposing new tariffs while negotiators are pursuing a deal. His economic adviser, Larry Kudlow, said Friday that there were "no arbitrary deadlines" to complete a limited trade deal.

Among European stocks, Tullow Oil was the biggest loser. The stock dropped more than 58% after the energy company cut production forecasts and its chief executive resigned with immediate effect.

Elsewhere in Asia, the Nikkei 225 index rose 0.3% after data showed the Japanese economy grew faster than expected in the third quarter. Gross domestic product expanded by an annualized 1.8% in the three months ended Sept. 30, surpassing a preliminary official estimate of 0.2%.

Over in the U.K., the FTSE 250 index of stocks dropped 0.6% as Britain prepares to vote in Thursday's crucial general election, which will set the country's course for how or whether it leaves the European Union. Polls suggest the ruling Conservative Party is set to win, though a recent narrowing of the lead is enough to keep the outcome uncertain. The pound rose a little less than 0.2% to $1.316, its highest since March.

Later this week, the U.S. and European central banks are both holding meetings to review interest rates, but neither is expected to announce any change in policy.

Write to Paul J. Davies at paul.davies@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHINA-SHANGHAI COMP -2.75% 2976.53 End-of-day quote.-2.93%
DJ INDUSTRIAL 0.66% 28722.85 Delayed Quote.0.65%
NASDAQ 100 1.55% 9090.932471 Delayed Quote.4.68%
NASDAQ COMP. 1.43% 9269.680958 Delayed Quote.3.82%
NIKKEI 225 0.71% 23379.4 Real-time Quote.0.72%
S&P 500 1.01% 3276.24 Delayed Quote.1.41%
S&P/CITIC 300 INDEX -3.13% 3485.68 Delayed Quote.-1.86%
S&P/CITIC 50 INDEX -2.99% 3600.44 Delayed Quote.-3.65%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
07:26aWALL STREET STOCK EXCHANGE : Oil rises as markets wait on virus impact and U.S. stockpiles fall
RE
07:21aWALL STREET STOCK EXCHANGE : Oil rises as markets wait on virus impact and U.S. stockpiles fall
RE
06:58aGlobal Stocks Edge Up Ahead of Fed Policy Decision
DJ
06:31aWALL STREET STOCK EXCHANGE : Dow profit beats on Asia demand and cost cuts, sees recovery in 2020
RE
05:58aSOUTHEAST ASIA STOCKS : Most markets subdued as coronavirus worries weigh on risk appetite
RE
05:43aHong Kong Stocks Slump, Catching Up to Coronavirus Fears -- 2nd Update
DJ
05:41aGlobal Stocks Edge Up Ahead of Fed Policy Decision
DJ
04:35aEUROPE : Strong bank earnings propel European shares higher
RE
03:11aHong Kong Stocks Slump, Catching Up to Coronavirus Fears -- Update
DJ
02:48aStocks : Big Swing in Tesla Shares Is Projected After Earnings
DJ
Latest news "Markets"