Markets slump as oil hits 12-year low... Bear market says Gartman... World Bank says this economy will be 2016’s brightest...
Markets slump as oil hits 12-year low
Oil prices have dropped almost 4 per cent overnight, to lows last seen in 2004. The plunge in prices has taken global equities down with Shanghai falling 7 per cent, triggering the second suspension of trading this week.
The global sell-off has spread through Asia with Tokyo and Sydney down more than 2 per cent and Hong Kong off by more than 3 per cent.
European indexes are generally down around 3 per cent so far.
Wall Street and Toronto are expected to open lower following losses in the previous session.
Bear market says Gartman
Dennis Gartman says that a bear market has “begun in earnest” globally. The influential investor told CNBC that a range of factors including oil prices, gold price gains and China’s equities are contributing to his view. Gartman made a prediction for a bear market a year ago but reversed his opinion and was proved incorrect.
World Bank says this economy will be 2016’s brightest
India has been hailed as the bright star in a gloomy galaxy of global economies. The World Bank is forecasting growth of 7.8 per cent in 2016-17 followed by two years at 7.9 per cent. China by comparison is expected to grow 6.7 per cent for 2016-17 and 6.5 per cent in the following two years. Brazil and Russia will remain in recession the World bank says.
Oil prices have dropped almost 4 per cent overnight, to lows last seen in 2004. The plunge in prices has taken global equities down with Shanghai falling 7 per cent, triggering the second suspension of trading this week.
The global sell-off has spread through Asia with Tokyo and Sydney down more than 2 per cent and Hong Kong off by more than 3 per cent.
European indexes are generally down around 3 per cent so far.
Wall Street and Toronto are expected to open lower following losses in the previous session.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 16,906.51 (-1.47 per cent) | -5.27 per cent | -2.68 per cent |
| TSX Composite | 12,726.80 (-1.50 per cent) | -2.42 per cent | -10.91 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 5,897.70 (-2.89 per cent) | -5.24 per cent | -8.13 per cent |
| German DAX | 9,834.14 (-3.72 per cent) | -9.66 per cent | +3.32 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,294.38 (-6.93 per cent) | -10.66 per cent | -9.59 per cent |
| Japan Nikkei | 17,767.34 (-2.33 per cent) | -9.80 per cent | +5.22 per cent |
| Other Data (at 4.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 33.00 (-3.59 per cent) |
32.67 (-3.83 per cent) |
1096.60 (+0.43 per cent) |
U$0.7066 |
| Aus. Dollar |
|||
| U$0.7015 | |||
Bear market says Gartman
Dennis Gartman says that a bear market has “begun in earnest” globally. The influential investor told CNBC that a range of factors including oil prices, gold price gains and China’s equities are contributing to his view. Gartman made a prediction for a bear market a year ago but reversed his opinion and was proved incorrect.
World Bank says this economy will be 2016’s brightest
India has been hailed as the bright star in a gloomy galaxy of global economies. The World Bank is forecasting growth of 7.8 per cent in 2016-17 followed by two years at 7.9 per cent. China by comparison is expected to grow 6.7 per cent for 2016-17 and 6.5 per cent in the following two years. Brazil and Russia will remain in recession the World bank says.
