Monday 3 October 2016

Asia Stocks start firm, Sterling stumbles

Asian shares began the new quarter cautiously firmer on Monday, while sterling took a spill as Britain set a March deadline to start divorce proceedings from the European Union. 

Risk sentiment had benefited on Friday from reports Deutsche Bank was negotiating a much smaller fine with the US Department of Justice, though the Wall Street Journal reported on Sunday that the talks were in flux. Just a hint of a deal was enough to nudge MSCI's broadest index of Asia-Pacific shares outside Japan up 0.2 percent. 


The index climbed 8.8 percent in the third quarter, its best performance since early 2012. The Australian market added 0.6 percent, while futures NKc1 pointed to a modest opening gain for Japan's Nikkei.


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