Oil drops on profit taking, equities mixed... Big cut in global trade growth says WTO...
Oil drops on profit taking, equities mixed
Oil prices have reversed overnight amid profit taking following some strong gains in the previous session.
Equities meanwhile are mixed as a meeting of oil producers continues in Algeria and on an assessment of the US presidential debate which puts Hillary Clinton slightly ahead of Donald Trump.
Asian markets closed mostly higher, except Sydney, with Tokyo and Shanghai leading the way.
European indexes started the session higher following the debate but have since declined as the banking sector was weighed down by a further slump for Deutsche shares.
Wall Street and Toronto are expected to open higher.
A US confidence index reading is expected to show a decline later while BoC governor Stephen Poloz will be speaking at Washington State.
Big cut in global trade growth says WTO
The World Trade Organization sees a large cut in the growth of global trade for 2016. Its latest forecast released Tuesday calls for a 1.7 per cent rise in trade, down from its 2.8 per cent estimate in April.
It means the first time in 15 years that world trade has fallen behind economic growth and should be taken as a “wake up call” the WTO’s director-general said.
Protectionism is highlighted as part of the issue, which will see a slower pace of growth in 2017 of between 1.8 and 3.1 per cent compared to the previous estimate of 3.8 per cent.
Oil prices have reversed overnight amid profit taking following some strong gains in the previous session.
Equities meanwhile are mixed as a meeting of oil producers continues in Algeria and on an assessment of the US presidential debate which puts Hillary Clinton slightly ahead of Donald Trump.
Asian markets closed mostly higher, except Sydney, with Tokyo and Shanghai leading the way.
European indexes started the session higher following the debate but have since declined as the banking sector was weighed down by a further slump for Deutsche shares.
Wall Street and Toronto are expected to open higher.
A US confidence index reading is expected to show a decline later while BoC governor Stephen Poloz will be speaking at Washington State.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,094.83 (-0.91 per cent) | -1.63 per cent | +10.91 per cent |
| TSX Composite | 14,619.46 (-0.53 per cent) | -0.14 per cent | +9.28 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,804.53 (-0.20 per cent) | -0.49 per cent | +11.39 per cent |
| German DAX | 10,321.06 (-0.70 per cent) | -2.52 per cent | +6.53 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,240.75 (+0.64 per cent) | -2.01 per cent | +0.27 per cent |
| Japan Nikkei | 16,683.93 (+0.84 per cent) | +1.98 per cent | -6.69 per cent |
| Other Data (at 2.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 46.50 (-1.80 per cent) |
45.17 (-1.65 per cent) |
1339.80 (-0.32 per cent) |
U$0.7566 |
| Aus. Dollar |
|||
| U$0.7664 | |||
Big cut in global trade growth says WTO
The World Trade Organization sees a large cut in the growth of global trade for 2016. Its latest forecast released Tuesday calls for a 1.7 per cent rise in trade, down from its 2.8 per cent estimate in April.
It means the first time in 15 years that world trade has fallen behind economic growth and should be taken as a “wake up call” the WTO’s director-general said.
Protectionism is highlighted as part of the issue, which will see a slower pace of growth in 2017 of between 1.8 and 3.1 per cent compared to the previous estimate of 3.8 per cent.
