Market Headlines – 13/12/2017

US

  • US equities traded higher, oil prices retreated from recent highs and the US dollar gained following better than expected US producer price inflation data.
  • US headline producer prices rose 0.4% last month, higher than expected, for a yoy increase of 3.1%. Core inflation (excluding food and energy) rose 2.4% yoy, it’s fastest pace since mid-2014.
  • Consumer price inflation and the Fed meeting, when a 25bps rate hike is expected, are likely to be the highlights for the session today. The Fed meeting will mark Janet Yellen’s final speech as Fed Chair before her term expires in February 2018.

 

Europe

  • European equities had a positive session yesterday. The Euro Stoxx index gained 0.5%, the UK’s FTSE 100 rose 0.6% and the German DAX index settled 0.5% higher.
  • Inflation in the UK was also in focus, with consumer prices rising 3.1% in November, higher than many expected and accelerating from October’s 3.0% rate.

 

Asia

  • Markets were mixed this morning in Asia ahead of upcoming central bank meetings over the next 2 days.

Japanese stocks fell 0.5% – losses in Materials and Tech stocks offset gains in Financials and Healthcare – and Chinese stocks had a strong session, rising 0.7%, with all sectors, with the exception of Real Estate, finishing higher.

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