Equities mostly lower, oil heads higher... Berkshire Hathaway makes big investment in Home Capital...
Equity markets are subdued Thursday as investors weigh volatile oil prices and continued uncertainty in world politics.
Asian markets closed mostly lower as oil prices fell overnight despite data showing lower-than-expected Us stockpiles. Prices have since rebounded.
European indexes are trending lower with oil in focus along with Brexit talks and a two-day European Council meeting. There is little data due in the region Thursday.
Wall Street and Toronto are expected to open lower. Canadian retail sales data is due.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
21,410.03 (-0.27 per cent) |
+2.47 per cent |
+20.41 per cent |
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TSX Composite |
15,148.53 (-0.01 per cent) |
-2.00 per cent |
+8.17 per cent |
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Europe (at 5.00am ET) |
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UK FTSE |
7,406.13 (-0.56 per cent) |
-1.20 per cent |
+18.29 per cent |
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German DAX |
12,729.17 (-0.36 per cent) |
+0.87 per cent |
+26.39 per cent |
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Asia (at close) |
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China CSI 300 |
3,590.34 (+0.07 per cent) |
+5.25 per cent |
+14.56 per cent |
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Japan Nikkei |
20,110.51 (-0.14 per cent) |
+2.20 per cent |
+25.18 per cent |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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45.17 (+0.78 per cent) |
42.79 (+0.61 per cent) |
1252.80 (+0.56 per cent) |
U$0.7517 |
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Aus. Dollar |
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U$0.7560 |
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Berkshire Hathaway makes big investment in Home Capital
Warren Buffett’s Berkshire Hathaway is to take up to a $400 million investment in Home Capital Group and provide a new $2 billion line of credit for the lender.
"Home Capital's strong assets, its ability to originate and underwrite well-performing mortgages, and its leading position in a growing market sector make this a very attractive investment," said Warren E.
Buffett, Berkshire Chairman and Chief Executive Officer.
Around $247 million of the $400 million investment is subject to shareholder approval with the initial investment amounting to around $153.2 million. Assuming both investments are completed, Berkshire Hathaway will hold around 40 per cent of Home Capital stock.
