Morning Briefing: Equities higher as oil prices jump

Morning Briefing: Equities higher as oil prices jump

Morning Briefing: Equities higher as oil prices jump

Equities higher as oil prices jump

Oil and gold prices have lifted market sentiment overnight. Although previous data showed that US crude stockpiles were increasing, new data reveals a larger than expected draw on US gasoline supplies.

Despite the overall oil market remaining oversupplied, prices have gained more than 1 per cent overnight and are trending higher.

Meanwhile, gold prices remain strong amid political uncertainty.

Most Asian markets closed higher Thursday although data and a stronger yen saw Tokyo’s Nikkei end the session lower. New Zealand’s central bank held its interest rates at 1.75 per cent while the Reserve Bank of India also kept its repo rate at 6.25 per cent.

European markets are trending higher on corporate earnings. Weak data from Germany and lawmakers moving the Brexit process closer in the UK have not affected markets significantly.

Wall Street and Toronto are expected to open higher.

 

Latest

1 month ago

1 year ago

North America (previous session)

US Dow Jones

20,054.34 (-0.18 per cent)

+0.84 per cent

+25.23 per cent

TSX Composite

15,554.04 (+0.36 per cent)

+1.07 per cent

+26.63 per cent

Europe (at 5.00am ET)

UK FTSE

7,191.12 (+0.03 per cent)

-0.64 per cent

+27.68 per cent

German DAX

11,567.53 (+0.21 per cent)

+0.03 per cent

+30.28 per cent

Asia (at close)

China CSI 300

3,396.29 (+0.38 per cent)

+0.96 per cent

+14.59 per cent

Japan Nikkei

18,907.67 (-0.53 per cent)

-2.81 per cent

+17.55 per cent

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

55.90

(+1.42 per cent)

55.03

(+1.24 per cent)

1243.20

(+0.30 per cent)

U$0.7624

 

Aus. Dollar

U$0.7653


Goldman Sachs to close hedge fund business in UK

As Brexit moves ever-closer, one of the world’s largest investment banks is closing one of its London-based units, although it denies that it is related to Britain’s exit from the European Union.

Goldman Sachs is reported by Reuters to be shuttering its hedge fund business in the British capital and moving staff to the US. A spokesman for Goldman Sachs Investment Partners said the move was “a discrete decision for reasons specific to GSIP, one investment team within Goldman Sachs, and shouldn’t be construed as anything but that.”

However, separate reports suggest that 1,000 Goldman jobs could move from the UK as a result of Brexit.