Morning Briefing: Global stocks higher ahead of European Central Bank

Morning Briefing: Global stocks higher ahead of European Central Bank

Morning Briefing: Global stocks higher ahead of European Central Bank Global stocks higher ahead of European Central Bank
Investors are focusing attention on Europe so far Thursday with news awaited from the central bank’s policy meeting. There is anticipation that the ECB could announce further measures to boost the Eurozone economy including the extension of quantitative easing.

Asian markets recovered from a sell-off in Shanghai during the previous session but the major indexes were mixed with Hong Kong and Japan among those closing with losses.

European markets are optimistic ahead of the ECB although London is slightly lower following remarks from the Bank of England governor Mark Carney about the UK’s forthcoming referendum on EU membership, due by the end of 2017.
Toronto and Wall Street are expected to open higher. US investors will be watching jobless claims and housing data along with earnings from McDonalds and 3M before the market opens and Alphabet (aka Google), Microsoft and Amazon after the closing bell.
 
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North America (previous session)
US Dow Jones 17,168.61 (-0.28 per cent) +5.13 per cent +4.30 per cent
TSX Composite 13,704.19 (+1.00 per cent) +1.58 per cent -4.25 per cent
 
Europe (at 6.15am ET)
UK FTSE 6,339.04 (-0.15 per cent) +6.79 per cent -0.95 per cent
German DAX 10,254.75 (+0.16 per cent) +7.15 per cent +14.70 per cent
 
Asia (at close)
China CSI 300 3,524.53 (+1.48 per cent) +5.56 per cent +45.72 per cent
Japan Nikkei 18,435.87 (-0.64 per cent) +2.02 per cent +21.32 per cent
 
Other Data (at 6.15am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
48.38
(+1.11 per cent)
45.70
(+1.11 per cent)
1166.80
(-0.03 per cent)
U$0.7620
 
Aus. Dollar
U$0.7218
 
Obama plans to help Puerto Rico with debt
Debt ridden Puerto Rico could be about to get some help from President Obama. The President’s administration is trying to avoid a potentially Greek-like situation for the country and although a US bailout may not be on the cards there could be assistance for the country, which is dangerously close to running out of cash and defaulting on debt payments. Obama’s plan will require Republican endorsement though at a time when costs are being reined in.