Morning Briefing: Markets fall as sentiment subsides

Morning Briefing: Markets fall as sentiment subsides

Morning Briefing: Markets fall as sentiment subsides Markets fall as sentiment subsides
Fear is dominating the markets Thursday with global growth and oil prices in focus.

Oil has turned negative overnight on profit-taking as prices have been boosted by supply disruption and a higher draw on US stocks.

Meanwhile, following dovish tones on the US economy and mixed data from China and Europe, South Korea has become the latest economy to flag weak growth expectations. Its central bank made a surprise interest rate cut Thursday.

Asian markets have closed with losses. Japanese exporters are under pressure from a stronger yen against the weakening US dollar and regional issues are subduing sentiment.
European indexes have also lost ground so far. ECB president Marco Draghi spoke Thursday about the need to avoid delays in boosting the Eurozone economy with inflation still causing concern. He also spoke of the potential “lasting damage” if output is not improved quickly enough. The UK votes on its membership of the EU two weeks from today.

Wall Street and Toronto are expected to open lower.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,005.05 (+0.37 per cent) +1.69 per cent +1.36 per cent
TSX Composite 14,313.10 (-0.37 per cent) +5.52 per cent -3.41 per cent
 
Europe (at 5.30am ET)
UK FTSE (previous) 6,242.91 (-0.93 per cent) +2.09 per cent -7.56 per cent
German DAX 10,086.36 (-1.28 per cent) +1.06 per cent -8.32 per cent
 
Asia (at close)
China CSI 300 3,163.99 (-0.41 per cent) +3.21 per cent -40.50 per cent
Japan Nikkei 16,668.41 (-0.97 per cent) +2.79 per cent -17.06 per cent
 
Other Data (at 5.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
52.16
(-0.67 per cent)
51.02
(-0.41 per cent)
1261.10
(-0.10 per cent)
U$0.7860
 
Aus. Dollar
U$0.7436
 
Sustainable energy spend hits new high
A record U$286 billion was spent on renewable energy in 2015 according to a report from Renewable Energy Policy Network for the 21st Century.

Its study found that China was responsible for a third of the total spend and the transport industry is expanding its use of greener technologies.

The growth in renewables was despite the slump in oil and natural gas prices which could have seen upwards trends collapse.