Global Market Report - November 30

The G20 Summit is providing a distraction for world markets on the last trading day of what has been another volatile month

Morningstar 03/12/2561

Global Market Report


Chinese manufacturing data came in below expectations today. With a reading of 50, the PMI survey shows the sector on the cusp of contracting and at a 16-month low. The non-manufacturing PMI was higher at 53.4, which was lower than the previous month’s survey and below forecasts.

China’s Shanghai Composite Index was up nearly 1% on the day but is lower than at the start of November, and over 20% down from the start of the year.

A range of Asia-Pacific indices were higher on the day, including the Nikkei 225 – which has made gains this month – but Australia’s All Ordinaries was one of the worst performing markets in the developed world today.


After a valiant struggle this week, the FTSE 100 has slipped back below 7,000 points, despite potential support from a weakening pound. Just 14 stocks were in positive territory in midmorning trading, while miners and housebuilders were on the defensive.

Eurozone exchanges were lower as traders digested a number of factors, not least growing social unrest in France that could tarnish the reputation of President Emmanuel Macron.

Deutsche Bank (DBK) shares were under pressure again after yesterday’s raid on their Frankfurt HQ.

North America

US markets could not repeat Wednesday’s gains on Thursday, drifting lower ahead of the key G20 Summit, which starts today in Buenos Aires, Argentina.

The Dow Jones and S&P 500 are marginally higher than at the start of the month, although it’s been a bumpy ride, while the Nasdaq is slightly lower.

Canada’s third quarter GDP is expected to have dropped from 2.9% to 2% on an annualised basis.

As the new month kicks off, next week sees the release of manufacturing data in Canada and the US. Canada’s central bank is expected to keep interest rates on hold at 1.75% on Wednesday, while Federal Reserve chairman Jerome Powell testifies before the Joint Economic Committee in Congress on the same day.

But non-farm payrolls are the highlight of the week’s economic calendar. The US economy is expected to have added 205,000 jobs in November, while the unemployment rate is forecast to remain at 3.7%.


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