Asia
Japanese equity indices managed to maintain their winning streak on Friday, the last trading day before the general election, helped by another rise in Wall Street. However, the gains were very slim, with the Nikkei and Topix indices closing around 0.04% higher than on Thursday.
Chinese markets were softer again and the CSI 300 closed below 4,000 points. Hong Kong’s Hang Seng index managed to break its losing pattern and ended the week with a day-on-day gain of over 1%. Nevertheless, at 28,487.24, the index is still a few hundred points lower than at the start of the week.
Europe
Brexit-inspired weakness in sterling helped give FTSE 100 dollar earners such as banks and miners a boost on Monday morning, keeping the index just below record high levels set earlier this week.
Companies such as Antofagasta (ANTO), Anglo American (AAL) and Rio Tinto (RIO) were among the big winners on Friday morning. Consumer goods firm Unilever (ULVR) was lower again today after falling sharply on Thursday following a weaker third-quarter trading update.
In economics, the UK’s budget deficit for September was the lowest for 10 years, at below £6 billion, much lower than forecasts.
European indices in France, Germany and Italy were marginally higher in midmorning trading, but again Spanish markets were softer amid ongoing political concerns.
North America
In a crowded week for earnings announcements, Friday also sees some big corporate names reporting. Dow Jones Industrial Average stalwart General Electric (GE) releases numbers before the market opens, as does consumer goods giant Procter & Gamble (PG), a global rival to FTSE 100-listed Unilever, which reported yesterday. After market close last night, online payments firm Paypal (PYPL) reported better-than-expected earnings for the third quarter and lifted its target for mobile payments for the rest of the year.
In Canada, inflation numbers for September are the highlight. The country, which is forecast by the IMF to grow the most quickly among G7 nations this year, is expected to have seen inflation grow by 1.7% in September – on a year-on-year basis – higher than the 1.4% rise in the cost of living in August.
In the US, existing home sales data for September will be released. After market close, Federal Reserve chair Janet Yellen will give a speech on monetary policy since the Financial Crisis.