Japanese data surprises, Europe lower ahead of central banks... Middle East output weighs on oil prices...
Japanese data surprises, Europe lower ahead of central banks
World markets are mixed so far Tuesday as Asian indexes gained while European investors are showing caution.
Asia’s gains were led by Shanghai which was up more than 3 per cent; and Tokyo which gained almost 1 per cent on better-than-expected household spending and unemployment data. Energy stocks declined on the ASX leaving Sydney as the main decliner of the session.
European investors are cautious ahead of the Fed’s interest rates decision and a meeting of the ECB. New data reveals deflation in the Eurozone has eased but growth in lending is a concern. A decline for VW shares followed earnings results showing a 19.3 per cent year-over-year drop in profits for the first quarter of 2016. The automaker’s profits were hit by the emissions scandal.
Wall Street re-opens after the Memorial Day holiday and is expected to open higher along with Toronto.
Middle East output weighs on oil prices
Concern over high levels of output from Middle East producers has led to a decline in oil prices. The OPEC member nations meet in Austria this week but the latest output data shows rising levels from Iraq, Iran, Saudi Arabia and Kuwait. Hopes of a production cap are low. Meanwhile, the summer driving season has given a lift to US crude prices.
World markets are mixed so far Tuesday as Asian indexes gained while European investors are showing caution.
Asia’s gains were led by Shanghai which was up more than 3 per cent; and Tokyo which gained almost 1 per cent on better-than-expected household spending and unemployment data. Energy stocks declined on the ASX leaving Sydney as the main decliner of the session.
European investors are cautious ahead of the Fed’s interest rates decision and a meeting of the ECB. New data reveals deflation in the Eurozone has eased but growth in lending is a concern. A decline for VW shares followed earnings results showing a 19.3 per cent year-over-year drop in profits for the first quarter of 2016. The automaker’s profits were hit by the emissions scandal.
Wall Street re-opens after the Memorial Day holiday and is expected to open higher along with Toronto.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,873.22 (+0.25 per cent) | +0.56 per cent | -0.76 per cent |
| TSX Composite | 14,086.67 (-0.13 per cent) | +0.97 per cent | -6.18 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE (previous) | 6,262.67 (-0.13 per cent) | +0.33 per cent | -10.33 per cent |
| German DAX | 10,318.87 (-0.14 per cent) | +2.79 per cent | -9.59 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,169.56 (+3.35 per cent) | +0.41 per cent | -34.52 per cent |
| Japan Nikkei | 17,234.98 (+0.98 per cent) | +3.41 per cent | -16.19 per cent |
| Other Data (at 5.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 49.55 (-0.42 per cent) |
49.46 (+0.26 per cent) |
1214.30 (-0.20 per cent) |
U$0.7664 |
| Aus. Dollar |
|||
| U$0.7247 | |||
Middle East output weighs on oil prices
Concern over high levels of output from Middle East producers has led to a decline in oil prices. The OPEC member nations meet in Austria this week but the latest output data shows rising levels from Iraq, Iran, Saudi Arabia and Kuwait. Hopes of a production cap are low. Meanwhile, the summer driving season has given a lift to US crude prices.
