Pre. Settlement | N/A |
Settlement Date | 2022-09-28 |
Open | 1,775.50 |
Bid | 1,767.60 |
Last Price | 1,774.90 |
Day's Range | 1,767.00 - 1,781.70 |
Volume | |
Ask | 1,767.90 |
World shares struggled and oil prices fell on Wednesday as the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors of the challenges facing the global economy. But a bigger than expected jump in British consumer price inflation to 10.1% in July highlighted growing pressures on households and helped cement expectations of another 50 basis point (bps) rate hike at the Bank of England's next meeting.
World shares edged up on Wednesday taking comfort from strong U.S. retail earnings even though the UK's highest inflation since 1982 and a rate hike in New Zealand reminded investors of the challenges facing the global economy. MSCI's benchmark for global stocks was up 0.1% by 0829 GMT, extending its July recovery, although concerns over high inflation and policy tightening kept a lid on gains. The MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2%, off earlier highs.
Asian shares rallied on Wednesday as strong earnings for U.S. retail giants suggested further room for interest rate hikes from the Federal Reserve as it attempts to cool inflation. FTSE 100 futures were up 0.25% and Euro Stoxx 50 futures were up 0.45%. S&P emini futures were up 0.1%.