STOCK EXCHANGES AROUND THE WORLD
Pakistan’s stocks index loses 105 points
After posting gains for three consecutive sessions, the KSE-100 index lost ground on Friday and closed with a decline of 105 points in range bound trading. A host of corporate financial results were released during the day, which heavily influenced direction of the market.
Trading kicked off on a positive note and the index managed to cross the 33,900-point mark multiple times in the first session before closing with a gain of nearly 130 points. At close, the benchmark KSE 100-share Index recorded a decrease of 105.02 points, or 0.31percent, to settle at 33,657.46. Overall trading volumes remained healthy at 170 million shares, mainly contributed by the transport sector (36.7 million) and followed by the technology sector (35.7 million) and chemical sector (15.8 million).
Among individual stocks, Pakistan International Bulk Terminal led the table with trading in 35.6 million shares. Overall, trading volumes increased to 170.9 million shares compared with Thursday’s tally of 121.3 million. The value of shares traded during the day was Rs4.02 billion. Shares of 357 companies were traded. At the end of the day, 146 stocks closed higher, 180 declined and 31 remained unchanged.
S&P index nears record high
US stocks rose on Friday after Washington said it was close to finalizing parts of a trade pact with Beijing and strong quarterly results from Intel Corp boosted investor sentiment, sending the S&P 500 briefly over the record high close it set three months ago.
During the session, the benchmark index peaked at 3,027.39, which surpassed its closing record of 3,025.86 on July 26. It ended at 3,022.55, and the S&P 500 total return index notched an all-time high.
Wall Street enjoyed a strong week, boosted by a clutch of better-than-expected third-quarter earnings reports. The S&P 500 posted its biggest weekly percentage gain in seven weeks, the Nasdaq its biggest in eight weeks.
The Dow Jones Industrial Average rose 152.53 points, or 0.57%, to 26,958.06, the S&P 500 gained 12.26 points, or 0.41%, to 3,022.55 and the Nasdaq Composite added 57.32 points, or 0.7%, to 8,243.12. For the week, the S&P 500 rose 1.2%, the Dow gained 0.7% and the Nasdaq climbed 1.9%.
Volume on US exchanges was 6.29 billion shares, compared to the 6.46 billion average for the full session over the last 20 trading days.
FTSE 100 heads for best weekly performance in nine months
London’s exporter-heavy FTSE 100 jumped along with its European counterparts on strong French manufacturing data, while a sharp rise for AstraZeneca after a 2019 forecast upgrade and a slide in sterling amid Brexit woes also lent support. The blue-chip index.FTSE climbed 0.9 percent to a near one-month high, taking home gains for the fourth consecutive session and outshining the European benchmark. A sell-off in the pound ahead of the European Union’s decision on whether to grant Britain another Brexit extension and amid risks of a possible general election led the domestically focussed FTSE 250. FTMC 0.1 percent lower.
India’s Sensex ends 38 points higher, Nifty settles at 11,584
Domestic stock markets swung between gains and losses amid volatile trade on Friday. After starting the day on a positive note, the markets gave in to losses with the S&P BSE Sensex index declining as much as 302.12 points to hit 38,718.27 on the downside.
The broader NSE Nifty benchmark declined to as low as 11,490.75 amid weakness in financial, auto and pharma stocks. Buying picked up in banking and information technology sectors, pushing the benchmark indices to the positive territory. The Sensex rebounded 523.34 points from the day’s weakest point to hit 39,241.61 on the upside and the Nifty returned above the 11,600 mark, before the markets gave up most of those gains. State Bank of India (SBI) shares surged more than 8 percent during the session after the country’s largest bank reported a three-fold surge in its net profit in the quarter ended September 30. Analysts awaited more large cap companies to report their financial results for the second quarter of current financial year.
Japanese stocks close higher
Japan stocks were higher after the close on Friday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.22 percent to hit a new 52-week high. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2018 to 1461 and 283 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00 percent to 15.18 a new 1-month low. Crude oil for December delivery was down 0.27 percent or 0.15 to $56.08 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.18 percent or 0.11 to hit $61.56 a barrel, while the December Gold Futures contract rose 0.26 percent or 3.95 to trade at $1508.65 a troy ounce.
France stocks higher at close of trade
France stocks were higher after the close on Friday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher.
At the close in Paris, the CAC 40 added 0.67percent to hit a new 5-year high, while the SBF 120 index gained 0.64percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 294 to 252 and 106 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 3.27percent to 12.84 a new 1-month low.