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COMING UP:Share Opener Variant 3

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Transcript

00:00:00
>> World stock exchanges began their first trading of 2019 with a New Year's hangover, deep in the red with more warning signs that global growth is slowing and the ripple effects of the trade war between the U.S. and China. In Europe, shares down 1.3% on average. Paris took the worst hit at 2%.
00:00:20
In Asia, Tokyo's leading index was down 1.6% Shanghai is down 1.2 pecent, Seoul down 1.5 percent and in New York, NADAL down over a percent, NASDAQ almost 2 percent. Walters, Jimmy Mcgiver in London. In many ways, there's an overhang of what weighed heavily on global financial markets towards the end of last year.
00:00:44
Slowing US economy, global trade wars, slowing global growth in general, weak emerging markets. The Central Bank, in the US the Federal Reserve raising interest rates, which weighs heavily on the US economy, but also particularly so on emerging markets. You put all that together, and investors went into 2019 with a lot of concern, a lot to be worried about.
00:01:07
What's perhaps less obvious, which came through this week is three of the world's top ten economies, we have shrinking manufacturing activity, factory activity in France, Italy, and China. Is contracting. And that doesn't bode particularly well for the growth outlook in those countries, and more broadly around the world.
00:01:26
>> There was a silver lining for the Japanese yen. The currency is up 0.7% against the dollar. The yen is strengthening its status as a safe haven. Similarly, the value of gold is up a third of a percent.