With some Asian bourses rebounding in afternoon trade, is it time to christen a second steadying of equities in recent months as the start of “Trump Trade 3.0″?
Probably not, at least judging by Hong Kong’s Hang Seng Index, which is down 0.7 per cent in afternoon trading as it catches up after a public holiday. Still, Japan’s Topix Index added 0.4 per cent and Australia’s S&P/ASX 200 closed the Wednesday session up 0.6 per cent
Such bullish sentiment is shared by investors in later time zones, as futures tip the FTSE 100 to open 0.3 per cent higher in London and the S&P 500 is expected to start the morning session in New York up 0.1 per cent and ahead of the first policy decision this year from the Federal Reserve.
Markets will have plenty to digest, as corporate earnings out today include Roche, Seimens, Electrolux, Thomas Cook, Punch Taverns, AG Barr, Talk Talk, Imperial Brands, Julius Baer and BBVA, to name a few.
The economic calendar is mildly less intimidating, if only just (all times London):
- 07.00: UK house prices
- 08.15: Spain manufacturing PMI
- 08.45: Eurozone manufacturing PMI
- 09.30: UK manufacturing PMI
- 10.00: Former EU ambassador Ivan Rogers questioned
- 10.30: Trade secretary Liam Fox speaks on trade beyond 2019
- 12.00: Prime Minister Theresa May questioned