Morning Briefing: Global stocks higher, ECB eyed

Morning Briefing: Global stocks higher, ECB eyed

Morning Briefing: Global stocks higher, ECB eyed Global stocks higher, ECB eyed
Expectation that the European Central Bank could be about to announce additional stimulus for the Eurozone bloc has pushed global stocks higher so far Tuesday.

Asian indexes managed a strong finish despite a weaker handover from Wall Street and Chinese PMI data which declined slightly in November.

European markets picked up the increased sentiment which was boosted by Eurozone unemployment data which showed a small decrease in October. The ECB meeting on Thursday is highly anticipated.

Wall Street and Toronto are expected to open higher.

Oil has gained so far but the OPEC meeting Friday is in focus. A survey by CNBC suggests that the group is unlikely to change its policy and that oil prices may have further to fall in the coming months.
 
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North America (previous session)
US Dow Jones 17,719.92 (-0.44 per cent) +0.32 per cent -0.61 per cent
TSX Composite 13,469.83 (+0.76 per cent) -0.44 per cent -7.90 per cent
 
Europe (at 6.00am ET)
UK FTSE 6,393.41 (+0.59 per cent) +0.51 per cent - 3.95 per cent
German DAX 11,364.56 (-0.16 per cent) +4.74 per cent +14.06 per cent
 
Asia (at close)
China CSI 300 3,591.70 (+0.71 per cent) +1.63 per cent +27.37 per cent
Japan Nikkei 20,012.40 (+1.34 per cent) +4.87 per cent +13.77 per cent
 
Other Data (at 6.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
44.73
(+0.27 per cent)
41.77
(-0.29 per cent)
1068.70
(+0.32 per cent)
U$0.7501
 
Aus. Dollar
U$0.7283

Banks may face tougher capital requirements
UK-based banks may be forced to further strengthen capital reserves. The Bank of England said Tuesday that banks may need to bolster their reserves by billions of pounds and revealed that banking groups RBS and Standard Chartered had only narrowly missed failing its ‘stress tests’. The test considers whether banks could withstand a cocktail of economic issues including oil at $38, China’s economy to slow to 1.7 per cent growth, market spikes and a stronger US dollar.