Global stocks advance ahead of ECB decision
SEOUL, Korea, Republic Of — Global shares rose on Thursday following upbeat trade data from China. Investors were looking ahead to a meeting of the European Central Bank later in the day.
KEEPING SCORE: Britain’s FTSE 100 gained 0.2 per cent to 6,914.73 and France’s CAC 40 added 0.3 per cent to 4,709.35. Germany’s DAX rose 0.6 per cent to 11,051.22. Futures augured a tepid start on U.S. markets. Dow futures gained 0.1 per cent while S&P futures also added 0.1 per cent.
CHINA TRADE IMPROVES: In China, exports grew last month for the first time in nine months while imports also rose in a sign of global and domestic demand are recovering. Customs data showed exports rose 0.1 per cent to $19.7 billion, compared with a 7.3 per cent fall in October.
ANALYST’S TAKE: The uptick in Chinese trade “reflects a strengthening in global demand, with recent business surveys suggesting that developed economies are on track to end the year on a strong note,” said Julian Evans-Pritchard of Capital Economics. “Most countries have yet to publish trade data for November but the other early reporters, Korea and Taiwan, also posted larger-than-expected pick-ups in export growth.”