Optimism returns to markets... Venezuela down to its last months of cash...
Optimism returns to markets
Thursday has started with positive sentiment in the equity markets with regional factors alongside stabilizing oil prices providing a lift.
Asian markets closed mostly higher with a weakened yen helping Japan’s exporters; the yen had been stronger following the approval of stimulus measures by the Japanese government earlier in the week. Australian banks were put on notice by prime minister Malcolm Turnbull who said that they would face parliamentary questions annually to provide details of their operations.
In Europe, markets are higher ahead of a key decision by the Bank of England. The bank’s Canadian governor Mark Carney will announce the interest rate decision at noon UK time (5pm ET) and is widely expected to cut 25 basis points to a rate of 0.25 per cent.
Wall Street and Toronto are expected to open higher.
Venezuela down to its last months of cash
The shaky economy of Venezuela could be heading for broke. A report from Miami investment firm Caracas Capital says the country will run out of cash “within a year.” The firm’s Venezuela expert Russ Dallen told CNBC that the country has been almost “suicidal” in making its debt payments.
Venezuelan debt from October will be $4.7 billion but the country only has $11.9 billion in cash reserves, down from $30 billion 5 years ago. It has been criticized for focusing on debt-reduction rather than tackling serious shortages in food and medicine.
Thursday has started with positive sentiment in the equity markets with regional factors alongside stabilizing oil prices providing a lift.
Asian markets closed mostly higher with a weakened yen helping Japan’s exporters; the yen had been stronger following the approval of stimulus measures by the Japanese government earlier in the week. Australian banks were put on notice by prime minister Malcolm Turnbull who said that they would face parliamentary questions annually to provide details of their operations.
In Europe, markets are higher ahead of a key decision by the Bank of England. The bank’s Canadian governor Mark Carney will announce the interest rate decision at noon UK time (5pm ET) and is widely expected to cut 25 basis points to a rate of 0.25 per cent.
Wall Street and Toronto are expected to open higher.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,355.00 (+0.23 per cent) | +2.26 per cent | +4.58 per cent |
| TSX Composite | 14,512.05 (+0.24 per cent) | +1.78 per cent | +0.14 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,635.76 (+0.02 per cent) | +1.74 per cent | -0.76 per cent |
| German DAX | 10,248.84 (+0.77 per cent) | +5.56 per cent | -10.54 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,201.29 (+0.24 per cent) | -0.11 per cent | -18.92 per cent |
| Japan Nikkei | 16,254.89 (+1.07 per cent) | +3.04 per cent | -20.79 per cent |
| Other Data (at 4.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 42.93 (-0.39 per cent) |
40.84 (+0.02 per cent) |
1357.30 (-0.55 per cent) |
U$0.7650 |
| Aus. Dollar |
|||
| U$0.7616 | |||
Venezuela down to its last months of cash
The shaky economy of Venezuela could be heading for broke. A report from Miami investment firm Caracas Capital says the country will run out of cash “within a year.” The firm’s Venezuela expert Russ Dallen told CNBC that the country has been almost “suicidal” in making its debt payments.
Venezuelan debt from October will be $4.7 billion but the country only has $11.9 billion in cash reserves, down from $30 billion 5 years ago. It has been criticized for focusing on debt-reduction rather than tackling serious shortages in food and medicine.
