Thu, 21 Nov 2019

U.S, dollar restrained, stocks advance Monday

Lola Evans
22 Oct 2019, 07:57 GMT+10

NEW YORK, New York - Optimism about ongoing trade talks between the U.S. and China helped keep stocks in the black on Monday, although gains were modest.

The U.S. dollar remained well contained despite the Canadian election which will determine the future of Justin Trudeau's government, and the continuing uncertainty about the manner of Britain's departure from the European Union.

UK Prime Minister Boris Johnson attempted to have parliament debate his proposed exit plan again however the Speaker of the House ruled that would be pointless. Surprisingly the pound held on to the gains that it has racked up since the prospects of a last-minute deal first arose almost two weeks ago.

At the close on Monday the Dow Jones Industrial Average was ahead 57.44 points, or 0.21%, at 26,827.64.

The Standard and Poor's 500 advanced 20.52 points, or 0.69%, to 3,006.72.

The Nasdaq Composite did best of all, rising 73.44 points, or 0.91%, to 8,162.99.

The euro was strong at 1.1148, as was the British pound which last traded at 1.2964 in New York in late trading on Monday.

The Japanese yen edged up to 108.58, while the Swiss franc firmed to 0.9863.

The Canadian dollar climbed a third-of-a-cent to 1.3091. The Australian dollar was strong at 0.6866, and the New Zealand dollar rose to 0.6403.

London's FTSE 100 strengthened by 0.18%. The German Dax added 0.91%, while in Paris, the CAC 40 gained 0.21%.

On Asian markets, China's Shanghai Composite rose 1.48 points or 0.05% to 2,939.62.

The Australian All Ordinaries nudged down by just 0.70 of a point or 0.01% to 6,757.70.

In Hong Kong, the Hang Seng was ahead 6.10 points or 0.02% to 22,548.90.

In Japan the Nikkei 225 added 56.22 points or 0.25% to 22,548.90.

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