Morning Briefing: Canadian wildfire halts oil decline, weak sentiment hits stocks

Morning Briefing: Canadian wildfire halts oil decline, weak sentiment hits stocks

Morning Briefing: Canadian wildfire halts oil decline, weak sentiment hits stocks Canadian wildfire halts oil decline, weak sentiment hits stocks
Regional earnings and lower commodity prices have hit equities so far Wednesday.

Asian markets closed lower following a weak lead from Wall Street; Sydney, which was boosted in the previous session by the Aussie central bank’s interest rate cut, lost 1.5 per cent as miners dragged. Tokyo is closed for a second day due to a public holiday.

In Europe, there is little optimism as oil prices continue to decline. Earnings are also in focus in Europe. Most major indexes are lower.

Wall Street and Toronto are expected to open lower.

Oil prices continued to decline in overnight although the wildfire raging near Canada’s oil sands region has halted the slide. Oil and gas firm bankruptcies in the US have surged recently with 59 insolvencies and a possibility that the industry will see more bankruptcies than the telecoms industry suffered more than a decade ago.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 17,750.91 (-0.78 per cent) +0.08 per cent -1.77 per cent
TSX Composite 13,707.68 (-1.14 per cent) +2.79 per cent -10.80 per cent
 
Europe (at 5.30am ET)
UK FTSE 6,110.90 (-1.21 per cent) -0.87 per cent -12.53 per cent
German DAX 9,853.99 (-0.73 per cent) +0.32 per cent -15.20 per cent
 
Asia (at close)
China CSI 300 3,209.46 (-0.13 per cent) -0.39 per cent -32.97 per cent
Japan Nikkei 16,147.38 (-3.11 per cent) -0.10 per cent -17.33 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
44.81
(-0.36 per cent)
43.46
(-0.44 per cent)
1278.70
(-1.01 per cent)
U$0.7830
 
Aus. Dollar
U$0.7466
 
Goldman Sachs warns of exposure to Chinese real estate
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