Morning Briefing: ECB speech boosts global markets

Morning Briefing: ECB speech boosts global markets

Morning Briefing: ECB speech boosts global markets ECB speech boosts global markets
Expectation of an extension of stimulus measures in the Eurozone has given a boost to global stocks Friday. ECB president Mario Draghi during the previous session hinted that there could be an early Christmas gift for the bloc when the central bank meets in December.

Asian markets have reacted to the ECB with all major indexes closing higher; Shanghai and Sydney by more than 1 per cent and Tokyo up more than 2 per cent. Japan’s Nikkei was up despite weakness in inflation and factory output but with the Bank of Japan meeting Friday expectation of stimulus was raised.

European indexes are trading higher on the ECB and a PMI report by Markit that showed activity has increased in October.  Frankfurt was up more than 2 per cent in early trade.

Toronto is expected to open higher after a positive close Thursday and Wall Street stock futures are also trending higher.
 
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North America (previous session)
US Dow Jones 17,489.16 (+1.87 per cent) +7.43 per cent +4.86 per cent
TSX Composite 13,878.11 (+1.27 per cent) +3.69 per cent -4.20 per cent
 
Europe (at 6.10am ET)
UK FTSE 6,433.19 (+0.89 per cent) +6.65 per cent +0.22 per cent
German DAX 10,661.08 (+1.61 per cent) +10.91 per cent +17.84 per cent
 
Asia (at close)
China CSI 300 3,571.24 (+1.33 per cent) +9.45 per cent +49.05 per cent
Japan Nikkei 18,825.30 (+2.11 per cent) +4.18 per cent +24.35 per cent
 
Other Data (at 6.15am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
48.49
(+0.85 per cent)
45.58
(+0.44 per cent)
1172.10
(+0.51 per cent)
U$0.7646
 
Aus. Dollar
U$0.7274
 
Put your money in property down under says Goldman Sachs
Despite analysts suggesting that the property market in Australia has reached its peak, Goldman Sachs believes that there is opportunity in the stocks of Aussie real estate firms. It says that a sell-off in the real estate firms it monitors has seen a decline of 17 per cent in stock values but that the market is not about to see prices crash as some are forecasting and concludes that there should be a rebound in the sector’s stocks.