OPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 14 points.
Coca-Cola’s carbonated soft drinks are making a comeback, as the company’s third-quarter sales rose in large part thanks to variations on its namesake cola.
A further slide in China’s economic momentum in the third quarter appears to be galvanizing government priorities around growth again, after years of trying to contain rising debt.
Overnight Summary
Each Market in Focus
Friday’s declines came after fresh Chinese growth data sparked concerns about the world’s No. 2 economy and a slew of negative headlines pummelled some of the biggest U.S. companies.
week of gains–largely due to upbeat quarterly earnings reports, including from banks like JPMorgan Chase and Citigroup . Of the 73 companies in the S&P 500 that have reported earnings through Friday morning,
more than four-fifths have topped analysts’ expectations, according to Refinitiv. That’s largely because expectations came down so much in recent months.
The pound traded hands at $1.2873, versus $1.2890 late Thursday. Analysts at Citi said the vote, scheduled for Saturday, was too close to call.
Chinese stocks dropped sharply after data showed the Chinese the economy slowed further in the third quarter, adding to concerns about global growth.
The benchmark Shanghai Composite Index fell 1.3%, its biggest decline in a month. Fresh data showed that China’s economy grew 6% in the quarter as business activity continued to deteriorate in the world’s No. 2 economy. Each quarterly slowdown in growth has pulled the economic performance to new lows not seen since the current measure of output was
adopted in 1992.
Hong Kong stocks reversed their opening gains after the data was released. The Hang Seng Index fell 0.5% to 26719.58. Large-cap mainland companies on the index broadly declined, while Hong Kong developers also edged down following gains in previous sessions.