Markets mixed ahead of Wall Street... Oil could hit $70 this year says Citi...
World markets are mixed so far Tuesday as investors await the reopening of Wall Street and perhaps more policy-tweeting from President Trump.
In Asia, there was mostly-positive data from Japan with manufacturing PMI and department store sales improving although an ‘all activity’ index was weaker than expected.
Tokyo’s Nikkei closed higher along with Shanghai and Seoul but there was weaker sentiment for Sydney and Hong Kong.
European indexes are trending higher with data showing improved PMI for services and manufacturing in the Eurozone and individual gains for Germany and France.
London’s FTSE is lower as BoE governor Mark Carney speaks in the UK parliament.
Wall Street and Toronto are expected to open higher.
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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 |
20,624.05 (+0.02 per cent) |
+4.02 per cent |
+25.82 per cent |
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TSX Composite |
15,838.63 (-0.16 per cent) |
+1.87 per cent |
+23.61 per cent |
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Europe (at 5.00am ET) |
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UK FTSE |
7,280.41 (-0.27 per cent) |
+1.14 per cent |
+22.36 per cent |
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German DAX |
11,885.79 (+0.49 per cent) |
+2.20 per cent |
+26.61 per cent |
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Asia (at close) |
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China CSI 300 |
3,482.82 (+0.33 per cent) |
+3.81 per cent |
+14.13 per cent |
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Japan Nikkei |
19,381.44 (+0.68 per cent) |
+1.27 per cent |
+21.38 per cent |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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56.89 (+1.26 per cent) |
54.13 (+1.37 per cent) |
1229.20 (-0.80 per cent) |
U$0.7600 |
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Aus. Dollar |
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U$0.7656 |
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Oil could hit $70 this year says Citi
Analysts are Citi Group believe a $70 barrel could be achieved for crude by the end of 2017 but its outlook is an outlier.
CNBC reports that the bullish tones of Citi suggest a $55 per barrel average in the first quarter, rising to $56 per barrel by the end of the second.
However, David Ernsberger, Global Head of Energy at S&P Global Platts, told CNBC's Squawk Box on Tuesday that prices are likely to be negatively impacted by growing output from US shale producers and additional supply from Iran.
