US rally spreads confidence globally... Oil up 3 per cent Monday but global glut concerns... US to investigate drug pricing... UK deflation in October...
US rally spreads confidence globally
A rally on Wall Street and higher oil prices have helped global stock markets to gain so far Tuesday.
Asian markets have generally closed higher with energy stocks boosted by a 3 per cent jump in oil prices; and airline stocks rose following initial reaction to the Paris attacks. Shanghai had been gaining but was the only one of the major Asian indexes to close lower. Tokyo was boosted by the lower yen along with Wall Street.
In Europe tough talk from both the French and British leaders helped markets regain confidence following the events of last Friday. The French president called for a coalition to target IS while Britain in increasing investment in its intelligence and security services. European markets are around 2 per cent higher.
Wall Street and Toronto are expected to open higher.
Oil up 3 per cent Monday but global glut concerns
Monday’s 3 per cent gain for West Texas Intermediate crude and higher prices for the benchmark Brent may have provided some relief for energy stocks but concerns over the global supply glut continue to weigh heavily. Yesterday’s gains were more about political tension following the Paris attacks than any easing of the oversupply situation. Analysts are still calling for a decline in prices and long term crude futures are reflecting that.
US to investigate drug pricing
Canada’s Valeant may have been in the headlines regarding the price of its drugs recently but the wider issue is to be investigated by US regulators in 2016. A panel from the US House of Representatives will look into the situation and has already made requests to manufacturers according to Reuters.
UK deflation in October
Consumer prices in the UK continued to fall in October the Office for National Statistics said Tuesday. The country’s CPI was down 0.1 per cent from the same month in 2014. The fall was expected by analysts with clothing and gasoline prices the biggest drags.
A rally on Wall Street and higher oil prices have helped global stock markets to gain so far Tuesday.
Asian markets have generally closed higher with energy stocks boosted by a 3 per cent jump in oil prices; and airline stocks rose following initial reaction to the Paris attacks. Shanghai had been gaining but was the only one of the major Asian indexes to close lower. Tokyo was boosted by the lower yen along with Wall Street.
In Europe tough talk from both the French and British leaders helped markets regain confidence following the events of last Friday. The French president called for a coalition to target IS while Britain in increasing investment in its intelligence and security services. European markets are around 2 per cent higher.
Wall Street and Toronto are expected to open higher.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,483.01 (+1.38 per cent) | +1.55 per cent | -0.86 per cent |
| TSX Composite | 13,317.52 (+1.85 per cent) | -3.76 per cent | -10.52 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,257.84 (+1.81 per cent) | -1.88 per cent | - 6.21 per cent |
| German DAX | 10,910.21 (+1.84 per cent) | +7.97 per cent | +17.23 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,758.39 (-0.15 per cent) | +6.35 per cent | +46.41 per cent |
| Japan Nikkei | 19,630.63 (+1.22 per cent) | +7.32 per cent | +15.65 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 44.59 (+0.07 per cent) |
41.51 (-0.55 per cent) |
1079.70 (-0.36 per cent) |
U$0.7517 |
| Aus. Dollar |
|||
| U$0.7121 | |||
Oil up 3 per cent Monday but global glut concerns
Monday’s 3 per cent gain for West Texas Intermediate crude and higher prices for the benchmark Brent may have provided some relief for energy stocks but concerns over the global supply glut continue to weigh heavily. Yesterday’s gains were more about political tension following the Paris attacks than any easing of the oversupply situation. Analysts are still calling for a decline in prices and long term crude futures are reflecting that.
US to investigate drug pricing
Canada’s Valeant may have been in the headlines regarding the price of its drugs recently but the wider issue is to be investigated by US regulators in 2016. A panel from the US House of Representatives will look into the situation and has already made requests to manufacturers according to Reuters.
UK deflation in October
Consumer prices in the UK continued to fall in October the Office for National Statistics said Tuesday. The country’s CPI was down 0.1 per cent from the same month in 2014. The fall was expected by analysts with clothing and gasoline prices the biggest drags.
