Stocks Rise Ahead of G20 Meeting

Global stock markets rose Monday as investors looked to this week’s meeting of finance ministers from major economies for reassurance about threats to world growth.

KEEPING SCORE: In early trading, Germany’s DAX gained 1.3 percent to 9,513.61 points and France’s CAC-40 added 1.2 percent to 4,273.55. On Friday, the DAX lost 0.8 percent, while the CAC-40 and Britain’s FTSE 100 both declined 0.4 percent. Wall Street looked set for gains, with futures for the Dow Jones industrial average and the Standard & Poor’s 500 both up 1 percent. On Friday, the Dow declined 0.1 percent and the S&P lost a fraction of a point. The Nasdaq composite index added 0.4 percent.

ASIA’S DAY: The Shanghai Composite Index rose 2.3 percent to 2,927.18 points and Sydney’s S&P/ASX 200 added 1 percent to 5,001.20. Tokyo’s Nikkei 225 advanced 0.9 percent to 16,111.05 and Hong Kong’s Hang Seng gained 0.9 percent to 19,464.09. India’s Sensex added 0.5 percent to 23,835.99 and Taiwan, Singapore and Jakarta also advanced. Seoul’s Kospi was unchanged at 1,916.36 and New Zealand declined.

FINANCE MEETING: Investors are hoping this week’s meeting of finance ministers from the Group of 20 major rich and developing economies will spur moves to shore up global growth. Japan’s center bank governor has called for the officials meeting Friday and Saturday in Shanghai to commit to coordinated action. But private sector analysts say fiscal and monetary policy options are limited following repeated rounds of stimulus.

via SOURCE

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza