Stocks remain mixed ahead of election... Canada among most prosperous nations but there is risk...
Stocks remain mixed ahead of election
Equity markets remain cautious ahead of next week’s US presidential election. Meanwhile fresh gains for oil and regional earnings are also in focus Thursday.
Asian markets closed mostly lower with Shanghai and Seoul the notable exceptions. Tokyo was closed for a public holiday.
European markets are flat with some support coming from a UK court ruling that the prime minister must seek parliament’s approval to trigger the mechanism for leaving the EU. The pound gained on the news.
The Bank of England is announcing its interest rate decision at noon UK time with markets expecting a hold-steady at 0.25 per cent.
Wall Street and Toronto are expected to open higher.
Canada among most prosperous nations but there is risk
Canada has ranked fifth in a league table of the most prosperous countries but there are some risks which could topple its position.
London-based think tank Legatum Institute ranks New Zealand, Norway, Finland and Switzerland above Canada with Australia just behind and the US in 17th place.
However, health and education are two areas where Canada is slipping, and overall prosperity has been half that of the UK and New Zealand. The report highlights that Canada has fared better than the US.
The report also warns that despite its prosperity Canada is not immune to economic growth failings seen in Latin America, noting that Canada “faces a similar challenge in keeping its prosperity rising, with oil producing provinces likely to be hit in their creation of prosperity by falling oil prices in a way that oil-consuming provinces will not be.”
Equity markets remain cautious ahead of next week’s US presidential election. Meanwhile fresh gains for oil and regional earnings are also in focus Thursday.
Asian markets closed mostly lower with Shanghai and Seoul the notable exceptions. Tokyo was closed for a public holiday.
European markets are flat with some support coming from a UK court ruling that the prime minister must seek parliament’s approval to trigger the mechanism for leaving the EU. The pound gained on the news.
The Bank of England is announcing its interest rate decision at noon UK time with markets expecting a hold-steady at 0.25 per cent.
Wall Street and Toronto are expected to open higher.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,959.64 (-0.43 per cent) | -1.90 per cent | +0.73 per cent |
| TSX Composite | 14,594.72 (-1.24 per cent) | -0.64 per cent | +6.45 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,844.92 (-0.10 per cent) | -1.98 per cent | +7.23 per cent |
| German DAX | 10,376.24 (+0.05 per cent) | -1.28 per cent | -5.25 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,365.08 (+0.95 per cent) | +3.44 per cent | -2.90 per cent |
| Japan Nikkei | 17,134.68 (-1.76 per cent) | +3.23 per cent | -8.29 per cent |
| Other Data (at 2.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 47.22 (+0.77 per cent) |
45.65 (+0.68 per cent) |
1294.10 (-1.08 per cent) |
U$0.7474 |
| Aus. Dollar |
|||
| U$0.7668 | |||
Canada among most prosperous nations but there is risk
Canada has ranked fifth in a league table of the most prosperous countries but there are some risks which could topple its position.
London-based think tank Legatum Institute ranks New Zealand, Norway, Finland and Switzerland above Canada with Australia just behind and the US in 17th place.
However, health and education are two areas where Canada is slipping, and overall prosperity has been half that of the UK and New Zealand. The report highlights that Canada has fared better than the US.
The report also warns that despite its prosperity Canada is not immune to economic growth failings seen in Latin America, noting that Canada “faces a similar challenge in keeping its prosperity rising, with oil producing provinces likely to be hit in their creation of prosperity by falling oil prices in a way that oil-consuming provinces will not be.”
