Tuesday, 22 October 2019

Markets rise amid improved prospects for US-China trade and Brexit deals

Markets were mostly higher on Monday.

The S&P 500 rose 0.7 percent to come within 0.6 percent of its record high. The STOXX Europe 600 rose 0.6 percent and the Nikkei 225 rose 0.2 percent.

“Equities are looking more positively at U.S.-Chinese talks and the potential of a better than expected earnings season showing from major names this week,” wrote Arnim Holzer, macro strategist for EAB Investment Group.

Markets shrugged off news that UK House of Commons speaker John Bercow refused to allow a vote on Prime Minister Boris Johnson’s Brexit deal with the European Union, saying the same issue had been discussed on Saturday.

“The chances of a deal one way or the other are higher than they were two weeks ago, which is why the market is not falling back,” said Rupert Thompson, head of research at asset manager Henderson Rowe.

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