Asia
Markets in the region were modestly higher as investors were today more optimistic about the trade talks between the US and China. This move was in spite of a softer close on Wall Street overnight.
Every day sees a new take on the progress of these negotiations – and in parallel, those between the United State and North Korea – so investors are understandably cautious. Chinese investors were the most optimistic the region, pushing the Shanghai Composite Index up over 1% but after a choppy week the index has not made much progress over the five days.
A four-month low for the yen against the dollar gave its usual support to Japan’s indices.
Europe
FTSE 100 pharmaceutical giant AstraZeneca (AZN) was one of the biggest fallers in the main index on Friday after first-quarter results revealed a fall in profits. Key cholesterol drug Crestor suffered stiff competition from generic drugs. Product sales were boosted by weaker sterling and the company said that generic competition would ease in the latter part of 2018.
The FTSE 100 closed at a record high last night but has so far today failed to make progress on Friday morning as oil stocks struggled after a strong week which saw the crude price hit $80 a barrel.
Eurozone indices were weaker despite gains in Asia.
North America
US economic releases are limited today and the Baker Hughes rig count is the highlight.
Stock futures are indicating a modest rise for US markets on Friday.
Canada inflation for April is also in view with the release of Consumer Price Index, which is expected to remain at 2.3% for the month.
Federal Reserve minutes are due next week for the most recent meeting.
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