Asian markets disrupted by storms, quake... Bombardier to cut 7,500 jobs... Greece wants debt relief talks...
Asian markets disrupted by storms, quake
Equity markets in Asia have been impacted overnight by a typhoon causing deaths, casualties and damage in the Philippines which also shut the Hong Kong exchange. Japan was hit by an earthquake.
Along with these events, markets have focused on data from China showing the fastest-ever rise in property prices, fuelling bubble concerns. Most indexes closed lower with Shanghai bucking the trend.
European indexes are higher so far with analysts and investors digesting the words of ECB president Mario Draghi in the previous session with no promise of greater stimulus for the region and no further decisions until its December meeting.
Regional earnings are also in focus in Europe and have helped mitigate the subdued appetite for risk-taking.
Wall Street and Toronto are expected to open higher. The Canadian consumer price index will be published later with a hold steady at 1.8 per cent expected.
Bombardier to cut 7,500 jobs
Breaking news from Bloomberg suggests that Bombardier could be about to cut more than 10 per cent of its workforce, 7,500 jobs.
The jobs will be lost over the next two years as the under-pressure manufacturer implements its restructuring plans.
Greece wants debt relief talks
Remember Grexit? The Greek debt issues are back with the country’s minister of state calling for talks over debt relief.
Nikos Pappas told CNBC that the country has stuck to its obligations under agreements with creditors and that “now is the time” for its partners to do their part.
However, some of those partners are still calling for economic reform rather than debt relief.
Equity markets in Asia have been impacted overnight by a typhoon causing deaths, casualties and damage in the Philippines which also shut the Hong Kong exchange. Japan was hit by an earthquake.
Along with these events, markets have focused on data from China showing the fastest-ever rise in property prices, fuelling bubble concerns. Most indexes closed lower with Shanghai bucking the trend.
European indexes are higher so far with analysts and investors digesting the words of ECB president Mario Draghi in the previous session with no promise of greater stimulus for the region and no further decisions until its December meeting.
Regional earnings are also in focus in Europe and have helped mitigate the subdued appetite for risk-taking.
Wall Street and Toronto are expected to open higher. The Canadian consumer price index will be published later with a hold steady at 1.8 per cent expected.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,162.35 (-0.22 per cent) | +0.18 per cent | +5.49 per cent |
| TSX Composite | 14,847.92 (+0.05 per cent) | +0.93 per cent | +8.35 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 7,029.06 (+0.03 per cent) | +2.84 per cent | +10.72 per cent |
| German DAX | 10,708.23 (+0.06 per cent) | +2.60 per cent | +4.59 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,327.74 (+0.28 per cent) | +1.87 per cent | -4.19 per cent |
| Japan Nikkei | 17,184.59 (-0.30 per cent) | +2.24 per cent | -7.38 per cent |
| Other Data (at 2.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 51.48 (+0.19 per cent) |
50.67 (+0.08 per cent) |
1265.00 (-0.20 per cent) |
U$0.7545 |
| Aus. Dollar |
|||
| U$0.7634 | |||
Bombardier to cut 7,500 jobs
Breaking news from Bloomberg suggests that Bombardier could be about to cut more than 10 per cent of its workforce, 7,500 jobs.
The jobs will be lost over the next two years as the under-pressure manufacturer implements its restructuring plans.
Greece wants debt relief talks
Remember Grexit? The Greek debt issues are back with the country’s minister of state calling for talks over debt relief.
Nikos Pappas told CNBC that the country has stuck to its obligations under agreements with creditors and that “now is the time” for its partners to do their part.
However, some of those partners are still calling for economic reform rather than debt relief.
