Market Commentary 02/04/2019
April 2, 2019 / Hamza Ahsan
The Europe-wide Stoxx 600 rose 0.1 percent with Frankfurt’s Xetra Dax 30 up 0.2 percent and London’s FTSE 100 up 0.3 percent. Wall Street’s S&P 500 looked set to slip by 0.2 percent having hit its highest in almost 6 months overnight with a 1.2 percent increase.
China’s CSI 300 slipped back from its highest reading for 2019 by 0.2 percent, while the Hang Seng in Hong Kong added 0.1 percent, hovering at a nine-month high.
Stocksstay positive in Europe in line with improved sentiment on global growth, although US futures predicted that momentum would ebb from the rally into the Wall Street open. The mood remains upbeat as data from the US manufacturing sector add to strong numbers from China, helping soothe the worst of the fears about the impact of the trade war between the countries
Lyftshares fell below their listing price as investors cashed out after Friday’s bumper debut and questions arose over the group’s route to profitability, causing a nearly 12% drop in the ride-hailing group’s stock.
Airlinesand travel groups fell after easyJet warned that Brexit uncertainties were affecting its summer bookings. Ryanair, IAG, Wizz Air and On The Beach all retreated in response to easyJet’s profit warning, which cut more than a fifth of year-end profit forecasts
Cryptocurrency is on track for its biggest one-day gain in a year as Bitcoin jumped above the $5,000 level for the first time in four months with other major cryptocurrencies also climbing.