Morning Briefing: Global stocks lower, Chinese data weak

Morning Briefing: Global stocks lower, Chinese data weak

Morning Briefing: Global stocks lower, Chinese data weak Global stocks lower, Chinese data weak
During China’s week-long public holiday which ended Thursday there was a moratorium on weak data from the world’s second largest economy but Tuesday’s trading day has been hit with more bad news.

China’s exports were 3.7 per cent lower in September compared to a year earlier while imports were down more than 20 per cent. The trade deficit was $60.34 billion. Although Shanghai’s stock market managed to claw back some of the intraday losses the regional markets all ended the day lower.

European markets have picked up the poor sentiment and are trading lower so far Tuesday. Data from the UK show that the country slipped into deflation last month with a 0.1 per cent decline. German business confidence is also lower amid the VW emissions scandal according to a new poll.

Toronto, which was closed Monday for Thanksgiving; and Wall Street which closed lower in the previous session; are expected to open lower.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 17,131.86 (+0.28 per cent) +4.25 per cent +4.97 per cent
TSX Composite 13,964.36 (-0.10 per cent) +3.74 per cent -1.85 per cent
 
Europe (at 6.30am ET)
UK FTSE 6,320.16 (-0.80 per cent) +3.31 per cent - 0.72 per cent
German DAX 10,001.99 (-1.16 per cent) -1.20 per cent +13.50 per cent
 
Asia (at close)
China CSI 300 3,445.04 (-0.08 per cent) +2.92 per cent +40.33 per cent
Japan Nikkei 18,234.74 (-1.11 per cent) -0.16 per cent +19.18 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
49.79
(-0.14 per cent)
46.96
(-0.30 per cent)
1154.00
(-0.90 per cent)
U$0.7659
 
Aus. Dollar
U$0.7307
 

Oil down again
Oil prices are below $50 again today after the recent rally. The International Energy Agency said Tuesday that the supply glut will continue throughout next year and data yesterday suggests higher OPEC output and larger US stockpiles.