Global stocks higher, ECB eyed... Banks may face tougher capital requirements...
Global stocks higher, ECB eyed
Expectation that the European Central Bank could be about to announce additional stimulus for the Eurozone bloc has pushed global stocks higher so far Tuesday.
Asian indexes managed a strong finish despite a weaker handover from Wall Street and Chinese PMI data which declined slightly in November.
European markets picked up the increased sentiment which was boosted by Eurozone unemployment data which showed a small decrease in October. The ECB meeting on Thursday is highly anticipated.
Wall Street and Toronto are expected to open higher.
Oil has gained so far but the OPEC meeting Friday is in focus. A survey by CNBC suggests that the group is unlikely to change its policy and that oil prices may have further to fall in the coming months.
Banks may face tougher capital requirements
UK-based banks may be forced to further strengthen capital reserves. The Bank of England said Tuesday that banks may need to bolster their reserves by billions of pounds and revealed that banking groups RBS and Standard Chartered had only narrowly missed failing its ‘stress tests’. The test considers whether banks could withstand a cocktail of economic issues including oil at $38, China’s economy to slow to 1.7 per cent growth, market spikes and a stronger US dollar.
Expectation that the European Central Bank could be about to announce additional stimulus for the Eurozone bloc has pushed global stocks higher so far Tuesday.
Asian indexes managed a strong finish despite a weaker handover from Wall Street and Chinese PMI data which declined slightly in November.
European markets picked up the increased sentiment which was boosted by Eurozone unemployment data which showed a small decrease in October. The ECB meeting on Thursday is highly anticipated.
Wall Street and Toronto are expected to open higher.
Oil has gained so far but the OPEC meeting Friday is in focus. A survey by CNBC suggests that the group is unlikely to change its policy and that oil prices may have further to fall in the coming months.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,719.92 (-0.44 per cent) | +0.32 per cent | -0.61 per cent |
| TSX Composite | 13,469.83 (+0.76 per cent) | -0.44 per cent | -7.90 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,393.41 (+0.59 per cent) | +0.51 per cent | - 3.95 per cent |
| German DAX | 11,364.56 (-0.16 per cent) | +4.74 per cent | +14.06 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,591.70 (+0.71 per cent) | +1.63 per cent | +27.37 per cent |
| Japan Nikkei | 20,012.40 (+1.34 per cent) | +4.87 per cent | +13.77 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 44.73 (+0.27 per cent) |
41.77 (-0.29 per cent) |
1068.70 (+0.32 per cent) |
U$0.7501 |
| Aus. Dollar |
|||
| U$0.7283 | |||
Banks may face tougher capital requirements
UK-based banks may be forced to further strengthen capital reserves. The Bank of England said Tuesday that banks may need to bolster their reserves by billions of pounds and revealed that banking groups RBS and Standard Chartered had only narrowly missed failing its ‘stress tests’. The test considers whether banks could withstand a cocktail of economic issues including oil at $38, China’s economy to slow to 1.7 per cent growth, market spikes and a stronger US dollar.
