Morning Briefing: Kuwait strike boosts oil

Morning Briefing: Kuwait strike boosts oil

Morning Briefing: Kuwait strike boosts oil Kuwait strike boosts oil
Oil has stabilized following the failed Doha producer talks. The new rise in prices has been sparked by a strike by oil workers in Kuwait. The country’s output slumped to 1.1 million barrels per day from 2.8 million bpd last month. Prices are up almost 1.5 per cent as a result of the hit to supplies.

Asian markets closed with gains, led by Japan’s Nikkei which was boosted by oil prices and also a weaker yen. Sydney and Hong Kong both ended their sessions up more than 1 per cent.

European indexes are also higher with oil and some positive earnings results helping equities. Frankfurt’s DAX is the star performer, rising more than 2 per cent.

Wall Street and Toronto are expected to open higher.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,004.16 (+0.60 per cent) +2.28 per cent +1.00 per cent
TSX Composite 13,719.82 (+0.61 per cent) +1.65 per cent -10.68 per cent
 
Europe (at 5.30am ET)
UK FTSE 6,398.65 (+0.71 per cent) +3.38 per cent -8.52 per cent
German DAX 10,337.36 (+2.14 per cent) +3.88 per cent -11.56 per cent
 
Asia (at close)
China CSI 300 3,238.30 (+0.31 per cent) +2.09 per cent -29.54 per cent
Japan Nikkei 16,874.44 (+3.68 per cent) +0.89 per cent -14.14 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
43.58
(+1.56 per cent)
40.35
(+1.43 per cent)
1243.60
(+0.70 per cent)
U$0.7846
 
Aus. Dollar
U$0.7778

Fed exec warns that banks are still too big
The president of the Federal Reserve of Minneapolis says that banks are still too big to fail despite measures taken since the financial crisis. Neel Kashkari spoke Monday and expressed his concern that Wall Street regulators have gone far enough to protect the system: "I am skeptical that current efforts to fix that problem will ultimately work.”