Global stocks end 2019 close to record highs

Wednesday, 1 January 2020 00:00 -     - {{hitsCtrl.values.hits}}

 


 

  • MSCI’s global share index up 24% in 2019 with best performance in almost a decade.

London (Reuters) Global equities drifted on Tuesday while the dollar ended 2019 on a subdued note following a buoyant year of stock market gains, driven in recent weeks by hopes of an imminent US-China trade deal.

MSCI’s global share index was treading water but is on track for a 24% rise in 2019 - the index’s best performance in almost a decade. In Europe, equity markets were mixed, with Britain’s FTSE slipping 0.4% while France’s CAC was little changed in thin trading. Germany’s DAX was closed. Bourses in Asia also diverged. China mainland stocks gained 0.4% after data showed manufacturing activity in the world’s second largest economy expanded for a second straight month in December.

The data added too optimism that trade tensions were easing between Beijing and Washington after White House trade adviser Peter Navarro said on Monday a Phase 1 deal would likely be signed in the next week. He cited a report that Chinese Vice Premier Liu He would visit the United States this week.

China’s gains built on Monday’s rally, which was driven by a combination of strong retail sales growth and hopes that a new benchmark for floating-rate loans could lower borrowing costs. Hong Kong stocks fell 0.5% as protesters geared up for pro-democracy rallies on New Year’s Eve. Markets in Japan and South Korea were closed for a holiday.

In currency markets, the dollar index, which tracks the greenback against a basket of six major rivals, slipped 0.2% in its fourth straight session in the red.

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