World markets lower on oil, Fed... IMF chief on trial...
World markets lower on oil, Fed
The impact of lower oil prices coupled with the Fed’s decision on interest rates is having more of an impact so far Friday. Following a weak finish to the previous session for North American indexes the rest of the world is also in negative territory so far.
Oil prices have continued to decline, although there has been a slight recovery for Brent crude overnight.
In Asia, most of the major indexes closed lower. Tokyo had been boosted earlier in the session by the BoJ announcing a hold-steady on policy but an increase in exchange-traded funds. However early gains were soon erased.
Europe’s markets are also lower following a strong Thursday session. Commodity prices are firmly in focus in the region and major indexes are down around a quarter of a percentage point.
Toronto and Wall Street are expected to open slightly lower. Wall Street will be set for the final ‘quadruple witching’ of the year; with quarterly stock and index options expiring along with stock and index futures. Trade is expected to be high and volatile.
IMF chief on trial
Christine Lagarde, the managing director of the IMF, is to face trial in France over her alleged role in a payout to a French businessman. The U$438.5 million was paid to Bernard Tapie after he sold his stake in sportswear firm Adidas to avoid a conflict of interest on becoming a French government minister. If Lagarde is found guilty of negligence in a public role she could face a year in jail.
The impact of lower oil prices coupled with the Fed’s decision on interest rates is having more of an impact so far Friday. Following a weak finish to the previous session for North American indexes the rest of the world is also in negative territory so far.
Oil prices have continued to decline, although there has been a slight recovery for Brent crude overnight.
In Asia, most of the major indexes closed lower. Tokyo had been boosted earlier in the session by the BoJ announcing a hold-steady on policy but an increase in exchange-traded funds. However early gains were soon erased.
Europe’s markets are also lower following a strong Thursday session. Commodity prices are firmly in focus in the region and major indexes are down around a quarter of a percentage point.
Toronto and Wall Street are expected to open slightly lower. Wall Street will be set for the final ‘quadruple witching’ of the year; with quarterly stock and index options expiring along with stock and index futures. Trade is expected to be high and volatile.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,495.84 (-1.43 per cent) | +0.04 per cent | +0.80 per cent |
| TSX Composite | 13,009.93 (-1.19 per cent) | -2.91 per cent | -9.32 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,069.95 (-0.53 per cent) | -3.33 per cent | -3.05 per cent |
| German DAX | 10,678.51 (-0.56 per cent) | -2.57 per cent | +8.84 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,767.91 (+0.32 per cent) | +1.41 per cent | +12.61 per cent |
| Japan Nikkei | 18,986.80 (-1.90 per cent) | -3.37 per cent | +10.32 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 37.27 (+0.57 per cent) |
34.88 (-0.20 per cent) |
1055.20 (+0.53 per cent) |
U$0.7173 |
| Aus. Dollar |
|||
| U$0.7140 | |||
IMF chief on trial
Christine Lagarde, the managing director of the IMF, is to face trial in France over her alleged role in a payout to a French businessman. The U$438.5 million was paid to Bernard Tapie after he sold his stake in sportswear firm Adidas to avoid a conflict of interest on becoming a French government minister. If Lagarde is found guilty of negligence in a public role she could face a year in jail.
