On 07 September, 2015 – European markets started the week on a positive note
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On 07 September, 2015 – European markets started the week on a positive note

September 8, 2015
|In Global Round Ups
|By Jesmond Mizzi Financial Advisors

US markets were closed for Labor Day holiday. European markets rose, though Asian markets were driven down by China.
Europe
Stocks across Europe rose on Monday following a volatile week characterised by nervousness about China’s economy and the possibility of a US interest rate hike later in the month. The Stoxx Europe 600 and the UK’s FTSE 100 rose 0.5%, Germany’s DAX 30 rose 0.7% and France’s CAC 40 gained 0.6%.
Shares in Glencore surged after the miner and commodities trader said that it is undertaking measures to reduce net debt by about $20 billion. Other mining stocks, including copper producer Antofagasta and Anglo American also rose. However, Associated British Foods slid after the company, which owns fashion retailer Primark, said that its full-year earnings are likely to be lower than last year’s, largely due to weaker earnings from its sugar division.
Asia Pacific
China-driven volatility returned to Asian markets on Monday, with Shanghai leading most of the region’s markets lower on renewed concerns about its economy. At the same time, Asian currencies hit a series of lows on worries about an increase in US interest rates.
Shares in Japan rose slightly, but most stock benchmarks in the region fell after China cut its growth rate for last year to 7.3% from 7.4%. Though the difference is marginal, it indicates that China’s struggle to meet its official growth target of about 7.5% last year was more difficult than previously estimated. In Shanghai, the main benchmark veered between positive and negative, before closing down 2.5%.
After the market close, Chinese authorities announced that the country’s foreign-exchange reserves fell by $93.9 billion in August from July, as the nation’s central bank intervened in the currency market to shore up the yuan and prevent capital from flowing out of the country. The 2.6% decline was the largest monthly drop in percentage terms since May 2012.
The Nikkei Stock Average rose 0.4%, but shares in Australia, Hong Kong and South Korea ended marginally lower.
Global Stock Market Recap

Please remember, the value of investments and the income from them can do down as well as up. Funds that invest in overseas markets may be subject to currency fluctuations. Investments in small and emerging markets can be more volatile than other overseas markets. Reference in this document to specific securities should not be construed as a recommendation to buy or sell these securities, but is included for the purposes of illustration only.
Looking forward*
Tuesday: Japan releases quarterly GDP numbers; Australia releases NAB Business Confidence data; China releases balance of trade and export and import data; in Europe, GDP growth numbers are on tap, while the US releases NFIB Business Optimism Index and Fed Labor Market Conditions Index data.
Wednesday: Australia releases Westpac Consumer Confidence and home loan data; in Japan, consumer confidence figures are due, while in the UK, manufacturing and industrial production data are on tap.
Thursday: Australia releases employment data; in the UK, the minutes from the Bank of England’s (BoE) Monetary Policy Committee meeting as well as the BoE’s quantitative easing and interest rate decisions are on tap; US releases continuing jobless claims and initial jobless claims.
Friday: UK releases consumer inflation expectations; US releases core Producer Price Index data and preliminary Michigan Consumer Sentiment data.
*Note — all releases are listed in local time.