Morning Briefing: Markets await Brexit clarity

Morning Briefing: Markets await Brexit clarity

Morning Briefing: Markets await Brexit clarity Markets await Brexit clarity
British prime minister Theresa May has been frustratingly ambiguous on what ‘Brexit’ actually means. Phrases such as “Brexit means Brexit” have done little to ease concerns from either side of the referendum vote or from businesses.

Things should become far clearer Tuesday as the premier sets out her government’s plan which will include crucial detail about membership of the single-market and customs union.

The markets are cautious ahead of the 11.45 GMT speech.

Asian indexes closed mixed with Shanghai, Hong Kong and Seoul the key gainers while Sydney and Japan lost. Markets remain concerned about the Trump presidency along with the Brexit speech.

European markets are, understandably, trending lower. Despite some positive corporate earnings and rising commodity prices, the Brexit stakes are high for both the UK and the EU’s other member states. Also in focus is a higher-than-forecast rise for consumer and producer prices in the UK; and stronger German economic sentiment.

Wall Street reopens after Martin Luther King Day and is expected to open higher along with Toronto.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 19,885.73 (-0.03 per cent) +0.21 per cent +24.38 per cent
TSX Composite 15,479.29 (-0.12 per cent) +1.49 per cent +28.21 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,298.64 (-0.39 per cent) +4.09 per cent +25.75 per cent
German DAX 11,454.71 (-0.87 per cent) +0.44 per cent +20.00 per cent
 
Asia (at close)
China CSI 300 3,326.36 (+0.21 per cent) -0.59 per cent +6.66 per cent
Japan Nikkei 18,813.53 (-1.48 per cent) -3.03 per cent +9.72 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
56.70
(+1.50 per cent)
53.31
(+1.79 per cent)
1215.40
(+1.61 per cent)
U$0.7659
 
Aus. Dollar
U$0.7536

 
Davos tweeters reveal top concerns
The World Economic Forum begins Tuesday in Davos, Switzerland and geo-politics is the top concern of attendees according to their Twitter posts.

KPMG’s Brian Bannister says that “Trump”, “Brexit” and “Elections” were among the most tweeted words by Davos delegates, based on 108,000 posts in the last 4 months by those taking part.

Women, workplace inequality and sustainability are also high on the agenda of the forum’s participants, which include Bill Gates and Canadian author Cory Doctorow.