Morning Briefing: Equities mixed, oil slips after strong gain

Morning Briefing: Equities mixed, oil slips after strong gain

Morning Briefing: Equities mixed, oil slips after strong gain Equities mixed, oil slips after strong gain
World stock markets are mixed Wednesday as a raft of economic conditions are considered including oil prices, US interest rates and Trump.

Asian markets had seen some strong gains during their session, tracking Wall Street, however profit-taking saw most indexes close flat with Tokyo the outlier as exporters benefitted from a weaker yen.

European indexes are trending lower with wider political issues adding to the mix of investor-caution. CNBC reports that Italy is expected to reject constitutional reform in an upcoming referendum.

Wall Street and Toronto are expected to open flat.
 
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North America (previous session)
US Dow Jones 18,923.06 (+0.29 per cent) +4.33 per cent +9.73 per cent
TSX Composite 14,756.10 (+1.08 per cent) +1.17 per cent +10.80 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,777.63 (-0.22 per cent) -3.36 per cent +10.27 per cent
German DAX 10,704.85 (-0.28 per cent) +1.18 per cent -0.08 per cent
 
Asia (at close)
China CSI 300 3,429.59 (-0.01 per cent) +3.74 per cent -8.89 per cent
Japan Nikkei 17,862.21 (+1.10 per cent) +5.97 per cent -7.90 per cent
 
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
46.77
(-0.38 per cent)
45.51
(-0.65 per cent)
1227.50
(+0.24 per cent)
U$0.7423
 
Aus. Dollar
U$0.7516

 
Oil demand peak is decades away says IEA
Growth in demand for oil won’t peak until 2040, the International Energy Agency says.

Despite the Paris agreement on climate change, the agency believes that demand in some areas of usage will fall but will be offset by gains in others. In its outlook it suggests that passenger vehicles will use less oil but it will be harder to find alternative fuels for freight transport.

India will see the fastest-growing demand for oil by 2040 while China will be the world’s largest oil consumer, surpassing the US.