Market Headlines 29/8/2017

Posted 29 Aug 2017 by Alan McCarthy


  • Equity markets began the week on a cautious note while the US dollar remained under pressure following the absence of monetary policy clues in Jackson Hole speeches last week.
  • The S&P 500 finished broadly flat yesterday, with Healthcare and Technology the primary outperformers and Financials and Energy notable laggards.
  • Oil prices fell 1.0% as participants priced in lower levels of disruption to supply from Texas refineries following Tropical Storm Harvey. The dollar index fell 0.6% against a basket of peers and settled at its lowest level since May 2016.



  • European equities underperformed their US peers yesterday, closing 0.5% lower as Real Estate and Media stocks underperformed. The German DAX fell 0.4%, the French CAC slipped 0.5%. UK equity markets are set to reopen today following yesterday’s bank holiday.
  • The euro traded 0.4% higher against the dollar, touching $1.1977 and adding to the common currency’s 1.0% move against the greenback on Friday.



Asian stocks fell and the yen gained overnight after North Korea fired a ballistic missile over Japan, an act which is likely to further heighten tensions with the US. Japanese stocks settled 0.5% weaker with Consumer Discretionary and Telecoms contributing the most losses.

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