Markets lower on China’s action on Australian casino workers... Oil weakens as Iran plans 4 million-barrel output...
Markets lower on China’s action on Australian casino workers
World markets have started the week lower, led by a drop in Asian indexes following news that China has detained employees of an Australian casino operator.
The country’s justice department told CNBC that the detention of the 18 employees is for “suspected involvement in gambling crimes.”
Asian indexes closed mostly lower although there were gains for Japan’s Nikkei as the yen weakened; and for South Korea as Samsung saw a market bounceback from its Galaxy Note 7 crisis.
In Europe, weaker Asian bourses and a stronger US dollar have hit equities. Markets are also awaiting earnings and the ECB’s meeting later in the week.
Wall Street and Toronto are expected to open flat.
Oil weakens as Iran plans 4 million-barrel output
Oil prices weakened Monday as it emerged that Iran plans to increase its output to around 4 million barrels per day, up from its current 3.89 million bpd.
The news comes as OPEC members along with Russia are set to formally agree a production cap in a bid to stabilize markets. The Iranian increase could stymie the deal.
Iran’s oil minister said Monday that the country’s output needs to be at its pre-sanction levels – which were 4.085 million bpd.
World markets have started the week lower, led by a drop in Asian indexes following news that China has detained employees of an Australian casino operator.
The country’s justice department told CNBC that the detention of the 18 employees is for “suspected involvement in gambling crimes.”
Asian indexes closed mostly lower although there were gains for Japan’s Nikkei as the yen weakened; and for South Korea as Samsung saw a market bounceback from its Galaxy Note 7 crisis.
In Europe, weaker Asian bourses and a stronger US dollar have hit equities. Markets are also awaiting earnings and the ECB’s meeting later in the week.
Wall Street and Toronto are expected to open flat.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,138.38 (+0.22 per cent) | +0.08 per cent | +5.36 per cent |
| TSX Composite | 14,584.99 (-0.40 per cent) | +0.93 per cent | +5.40 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,968.76 (-0.64 per cent) | +3.85 per cent | +9.26 per cent |
| German DAX | 10,527.25 (-0.50 per cent) | +2.44 per cent | +4.18 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,277.88 (-0.85 per cent) | +1.21 per cent | -7.25 per cent |
| Japan Nikkei | 16,900.12 (+0.26 per cent) | +2.31 per cent | -7.61 per cent |
| Other Data (at 2.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 51.94 (-0.02 per cent) |
50.28 (-0.20 per cent) |
1253.30 (-0.18 per cent) |
U$0.7597 |
| Aus. Dollar |
|||
| U$0.7602 | |||
Oil weakens as Iran plans 4 million-barrel output
Oil prices weakened Monday as it emerged that Iran plans to increase its output to around 4 million barrels per day, up from its current 3.89 million bpd.
The news comes as OPEC members along with Russia are set to formally agree a production cap in a bid to stabilize markets. The Iranian increase could stymie the deal.
Iran’s oil minister said Monday that the country’s output needs to be at its pre-sanction levels – which were 4.085 million bpd.
