Markets weak on oil, Japan... Could Brexit break-up the Eurozone...
Markets weak on oil, Japan
Equity markets are trending lower so far Tuesday as oil prices remain weak following a near-4 per cent drop in the previous session.
Japan’s economic stimulus is also in focus as the government approved the multi-billion-dollar package of fiscal measures. Although the news came after the markets closed, it was more of a formality. The yen hit a 3-week high as the deal was confirmed and Japanese bonds declined.
Elsewhere in Asia, Australia’s central bank cut interest rates by 25 basis points to a new low of 1.5 per cent. Markets closed lower with the exception of Shanghai. Hong Kong closed early due to adverse weather conditions.
European indexes have been impacted by concern over the region’s banks. Stress test results released Friday have shown some weak spots in financial institutions, especially in Italy.
Wall Street and Toronto are expected to open lower.
Could Brexit break-up the Eurozone
Although the UK has yet to trigger the formal process of leaving the European Union, and the country’s economy is showing signs of slowing; for many it is the impact on the weaker economies of the region that is of most concern.
JP Morgan Chase’s CEO Jamie Dimon believes that Brexit could result in the breakdown of the Eurozone, the trading bloc within the EU which has the Euro as its currency.
"It may take more than five years, but it may very well happen," Dimon said in an interview on CNBC.
Equity markets are trending lower so far Tuesday as oil prices remain weak following a near-4 per cent drop in the previous session.
Japan’s economic stimulus is also in focus as the government approved the multi-billion-dollar package of fiscal measures. Although the news came after the markets closed, it was more of a formality. The yen hit a 3-week high as the deal was confirmed and Japanese bonds declined.
Elsewhere in Asia, Australia’s central bank cut interest rates by 25 basis points to a new low of 1.5 per cent. Markets closed lower with the exception of Shanghai. Hong Kong closed early due to adverse weather conditions.
European indexes have been impacted by concern over the region’s banks. Stress test results released Friday have shown some weak spots in financial institutions, especially in Italy.
Wall Street and Toronto are expected to open lower.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,404.51 (-0.15 per cent) | +2.54 per cent | +4.04 per cent |
| TSX Composite | 14,582.74 (+0.21 per cent) | +3.68 per cent | +0.79 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,634.65 (-0.89 per cent) | +0.86 per cent | -0.92 per cent |
| German DAX | 10,185.05 (-1.41 per cent) | +4.18 per cent | -9.94 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,189.05 (+0.39 per cent) | +1.10 per cent | -16.44 per cent |
| Japan Nikkei | 16,391.45 (-1.47 per cent) | +4.52 per cent | -20.37 per cent |
| Other Data (at 4.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 42.17 (+0.12 per cent) |
40.06 (+0.00 per cent) |
1366.00 (+0.47 per cent) |
U$0.7627 |
| Aus. Dollar |
|||
| U$0.7567 | |||
Could Brexit break-up the Eurozone
Although the UK has yet to trigger the formal process of leaving the European Union, and the country’s economy is showing signs of slowing; for many it is the impact on the weaker economies of the region that is of most concern.
JP Morgan Chase’s CEO Jamie Dimon believes that Brexit could result in the breakdown of the Eurozone, the trading bloc within the EU which has the Euro as its currency.
"It may take more than five years, but it may very well happen," Dimon said in an interview on CNBC.
