Global stocks stuck to recent gains on Monday following good advances in Asia on optimism for a U.S.-China trade agreement, a more optimistic development outlook, and a softer greenback. At the same time, the euro climbed to a 4-1/2 month excessive.
Yet European markets failed to follow the lead and took a breather following last week’s record highs.
The pan-regional Euro Stoxx 600 STOXX was down 0.3%, whereas Germany’s index slid 0.5%. Banks, which had been slowing the 2019 rally, had been the one market to mark small gains in thin year-end trading.
Many Asian bourses had marked healthy gains with Chinese blue chips soaring 1.5% larger, supported by a report that 2019 retail sales are estimated to rise 8% and expectations that a brand new benchmark for floating-price loans may decrease borrowing prices and increase flagging financial progress.
But Japan’s Nikkei completed its final trading day of the year down 0.76%.
Easing trade conflict worries have offered a raise to world equities this month, putting MSCI’s international equity index on track for a 3.8% increase in December – its fourth straight month of gains.
U.S. futures additionally pointed to a better open after the S&P 500 and the Dow Jones Industrial Average closed at records on Friday.
In Forex, the greenback index – measuring the currency in opposition to a basket of competitors – weakened 0.1% to 96.793 in its third consecutive session in the red.