Tommy Fleetwood tops Race to Dubai standings after Abu Dhabi HSBC Championship triumph

Tommy Fleetwood has surged to the top of the Race to Dubai standings following his victory at the Abu Dhabi HSBC Championship.

Fleetwood, who turned 26 on Thursday, ended a 1,247-day wait for a second European Tour title on Sunday when he triumphed in the UAE capital. The Englishman clinched the Falcon Trophy by one shot ahead of Spain’s Pablo Larrazabal and American world No 3 Dustin Johnson. Fleetwood also impressed in his other European Tour outing this season, finishing tied-third at the Hong Kong Open in December.

As a result of his triumph and the €421,139 (Dh1.67 million) winner’s prize, Fleetwood assumes top spot in the European Tour’s order of merit, which concludes with the tour’s top 60 players competing at the season-ending DP World Tour Championship in Dubai.

Larrazabal’s runner-up finish in Abu Dhabi moved him up to third, while Australia’s Sam Brazel, winner of the Hong Kong Open, separates the two in second place.

Meanwhile, reigning Race to Dubai winner and British Open champion Henrik Stenson occupies 27th, with four-time major winner Rory McIlroy in 11th. However, both have only played in one tournament so far this season, with Stenson tied eighth in Abu Dhabi, while McIlroy, who withdrew from Abu Dhabi due to a rib injury, claimed second at the South African Open.

The European Tour heads to the Qatar Open this week before returning to the UAE for the Omega Dubai Desert Classic on February 2 to conclude the three-part Desert Swing.

* The National staff

__________________________________

Read more

■ Tommy Fleetwood: Sixth-time lucky for 'very proud' Abu Dhabi champion

■ Photo gallery: Pictures from the Abu Dhabi HSBC Championship final round

■ Dustin Johnson: Plans 2018 return and aims to go one better next time

__________________________________

RACE TO DUBAI STANDINGS

1. Tommy Fleetwood (Britain) 526481

2. Sam Brazel (Australia) 318540

3. Pablo Larrazabal (Spain) 276594

4. Rafael Cabrera-Bello (Spain) 237776

5. Andrew Dodt (Australia) 227984

6. Graeme Storm (Britain) 204709

7. Brandon Stone (South Africa) 198498

8. Harold Varner III (US) 175631

9. Dean Burmester (South Africa) 141976

10. Richard Sterne (South Africa) 138000

11. Rory McIlroy (Britain) 119287

12. Thomas Aiken (South Africa) 116550

13. Bernd Wiesberger (Austria) 107306

13. Martin Kaymer (Germany) 107306

13. Kiradech Aphibarnrat (Thailand) 107306

16. Jordan Smith (Britain) 98972

17. David Lipsky (US) 93990

18. Thomas Detry (Belgium) 89160

19. Alexander Bjoerk (Sweden) 83523

20. Benjamin Hebert (France) 73845

21. Paul Waring (Britain) 67855

22. Danny Willett (Britain) 65488

23. Carlos Pigem (Spain) 64029

24. Brett Rumford (Australia) 63298

25. Joel Stalter (France) 58966

26. Scott Jamieson (Britain) 58241

27. Lee Westwood (Britain) 56770

27. Peter Hanson (Sweden) 56770

27. Henrik Stenson (Sweden) 56770

30. Peter Uihlein (US) 56546

sports@thenational.ae

Follow us on Twitter @NatSportUAE

Like us on Facebook at facebook.com/TheNationalSport

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”