Markets rise as IEA says oil may have hit lows... Investors pouring cash into Fintech sector... Start-ups want IPOs but expect to be bought...
Markets rise as IEA says oil may have hit lows
The International Energy Agency says that oil prices may have reached their lowest point and will now be supported further by producers: “There are clear signs that market forces are working their magic and higher-cost producers are cutting output," its report said.
Although many analysts are less optimistic, Goldman Sachs for example highlighting the continued supply glut, oil prices have gained overnight with West Texas crude up more than 2.6 per cent and Brent rising almost 2 per cent.
Equity markets have reacted with strong gains in Europe; Frankfurt’s DAX is up almost 3 per cent in morning trading; while Asian markets have also closed higher, albeit by narrower margins.
Europe’s markets were also boosted by the ECB’s stimulus measures this week which have now been digested and communicated to investors with positive reaction.
Wall Street and Toronto are expected to gain after finishing flat in the previous session.
Investors pouring cash into Fintech sector
Financial technology is gaining traction with investments in Fintech start-ups increasing sharply in 2015. KPMG and CB Insights revealed that total investment in Fintech globally was up to $19.1 billion, a 60 per cent increase from 2014. Asia in particular saw a surge in investment, growing 400 per cent to $4.5 billion.
Start-ups want IPOs but expect to be bought
Silicon Valley Bank's Start-up Outlook reveals that 17 per cent of new firms are ultimately gearing up for an IPO but 56 per cent expect to be acquired. The survey of 900 Silicon Valley firms carried out in December 2015 also found that 18 per cent of firms aim to remain private companies with 8 per cent unsure of their long-term goal.
The International Energy Agency says that oil prices may have reached their lowest point and will now be supported further by producers: “There are clear signs that market forces are working their magic and higher-cost producers are cutting output," its report said.
Although many analysts are less optimistic, Goldman Sachs for example highlighting the continued supply glut, oil prices have gained overnight with West Texas crude up more than 2.6 per cent and Brent rising almost 2 per cent.
Equity markets have reacted with strong gains in Europe; Frankfurt’s DAX is up almost 3 per cent in morning trading; while Asian markets have also closed higher, albeit by narrower margins.
Europe’s markets were also boosted by the ECB’s stimulus measures this week which have now been digested and communicated to investors with positive reaction.
Wall Street and Toronto are expected to gain after finishing flat in the previous session.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 16,995.13 (-0.03 per cent) | +6.79 per cent | -3.78 per cent |
| TSX Composite | 13,379.14 (-0.10 per cent) | +10.69 per cent | -9.23 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE | 6,128.67 (+1.52 per cent) | +10.69 per cent | -8.82 per cent |
| German DAX | 9,759.40 (+2.75 per cent) | +11.50 per cent | -17.34 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,018.28 (+0.17 per cent) | +1.84 per cent | -14.37 per cent |
| Japan Nikkei | 16,938.87 (+0.51 per cent) | +7.80 per cent | -9.53 per cent |
| Other Data (at 6.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 40.83 (+1.95 per cent) |
38.83 (+2.62 per cent) |
1265.50 (-0.57 per cent) |
U$0.7550 |
| Aus. Dollar |
|||
| U$0.7507 | |||
Investors pouring cash into Fintech sector
Financial technology is gaining traction with investments in Fintech start-ups increasing sharply in 2015. KPMG and CB Insights revealed that total investment in Fintech globally was up to $19.1 billion, a 60 per cent increase from 2014. Asia in particular saw a surge in investment, growing 400 per cent to $4.5 billion.
Start-ups want IPOs but expect to be bought
Silicon Valley Bank's Start-up Outlook reveals that 17 per cent of new firms are ultimately gearing up for an IPO but 56 per cent expect to be acquired. The survey of 900 Silicon Valley firms carried out in December 2015 also found that 18 per cent of firms aim to remain private companies with 8 per cent unsure of their long-term goal.
