OPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 39 points.
European food-delivery giant Delivery Hero has agreed to buy South Korean rival Woowa for $4 billion, heating up the global battle to meet growing consumer demand for delivered meals.
President Trump has agreed to a limited trade agreement with Beijing that will roll back existing tariff rates on Chinese goods and cancel new levies set to take effect Sunday as part of a deal to boost Chinese purchases of U.S. farm goods and obtain other concessions
Overnight Summary
Each Market in Focus
Global stocks capped off a week of strong gains as two key uncertainties weighing on markets edged toward a resolution.
Major indexes and government bond yields recorded big swings in early trading as investors awaited details on a trade deal between the U.S. and China. Encouraging developments on a truce, along with some clarity on Brexit, spurred an early rally in global stocks.
The S&P 500 added 0.7% for the week, while the tech-heavy Nasdaq Composite rose 0.9%. Both indexes closed at records Friday. The Dow Jones Industrial Average climbed 0.4% for the week, ending 0.1% below its highest-ever level from Nov. 27.
The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, fell slightly, pressured by a 1.3% rally in the British pound sterling. Sterling rose in the wake of an election victory for Prime Minister Boris Johnson’s Conservative Party.
In Europe, stocks closed higher with the Stoxx Europe 600 up 1.2%. London stocks closed sharply higher after U.K. Prime Minister Boris
Johnson won a decisive majority. The FTSE 100 rose 1.1% to 7353.44, giving up some earlier gains, and ended the week 1.6% higher.
Housebuilders, utility companies and U.K.-focused banks rallied and Taylor Wimpey topping the index gainers, up 14.7%, followed by peers Barratt Developments and Berkeley Group.
The German DAX was up 61.08 points, or 0.46%, on the day and up 116.14 points, or 0.88% this week to 13282.72. The French CAC was up 34.76 points, or 0.59%, on the day and up 47.11 points, or 0.80%, this week to 5919.02.
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