AUS
NZ
UK
CA
USA
IND
The market participants were very keenly waiting for the G20 meeting as there were hopes that in the meeting the US and China might consider measures which would help erasing the tensions related to the trade battle which could support the concerns of the global market participants. It seems like the meeting ended on the positive note and thus, the tensions related to the trade battle have been erased temporarily.
Talking about the trade, the US President stated that they would not be increasing the rates on the tariffs to 25% i.e. the rate would remain unchanged at 10% on the $200 billion goods. If the negotiations which they plan to do with in the period of 90 days does not happen as planned, the rates would be increased to 25%. Even though there has not been a permanent end to the trade war, there is a highly probability that the market playersâ sentiments would regain the lost momentum. From the past several months, the tensions related to the trade battle have been weighing over the minds of the investors. Needless to say, the settlement between the US and China would also positively impact the technology sector and a robust momentum in the technology sector helps the broader markets as well.
Oil Prices Witnesses A Rise
It seems like the sentiments of investors have improved significantly primarily because of temporary relaxation from trade war between the US and China. While the permanent settlement is expected to help the global financial markets, the temporary settlement has also significantly helped in improving the sentiments. The oil prices witnessed a rise mainly on the back of the expectations that the US and China might end their battle. Now the investors are waiting for another meeting which is scheduled to take place on December 6, 2018 as this might also help in improving the sentiments of the investors. The meeting is expected to end up with the announcement about the production cuts which might further support the oil prices. Therefore, the sentiments of the participants in the oil markets are expected to remain sensitive to the global macroeconomic news. While the trade war between the US and China has been put to a temporary halt, still there are worries about the escalation of the battle.
Australian Markets Ended on Strong Note
As expected by the market players, the Australian markets ended the session on December 3, 2018, on the strong note. The primary reason which has supported by the Australian markets was the temporary halt of the trade battle between the US and China. S&P/ASX200 ended the session at 5771.2 which implies the rise of 104 points or 1.8%. Among the gainers, Graincorp Limited (ASX:GNC) and Bellamyâs Australia Limited (ASX:BAL) ended the session by advancing 26.712% and 12.022%, respectively. On the other hand, the stocks like St Barbara Limited (ASX:SBM) and Metcash Limited (ASX:MTS) ended the trading session by declining 7.883% and 5.054%, respectively.
IMF Bentham Limited (ASX:IMF) has conducted the meeting between the bondholders. This meeting was conducted so that the approval can be achieved with respect to the changes which the company wants. Read the full news here. Birimian Limited (ASX:BGS) is making an entry into the battery industry. Read the full news here.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
