Morning Briefing: Markets focus on Brexit, Trump

Morning Briefing: Markets focus on Brexit, Trump

Morning Briefing: Markets focus on Brexit, Trump Markets focus on Brexit, Trump
The focus for world markets Monday is on two world leaders: Donald Trump whose inauguration takes place Friday; and British Prime Minister Theresa May, who will set out her government’s plan for Brexit Tuesday.

Markets are cautious ahead of both events and with Wall Street closed for Martin Luther King Day, there is likely to be lower trading volumes.

In Asia, markets closed generally lower as the British pound fell 1 per cent ahead of the Brexit speech, rattling investors. 

Other influences in the region included an arrest warrant issued for Samsung chief Jay Y. Lee in relation to the South Korean president’s influence scandal. Sydney was the outlier in Europe with the ASX climbing as the materials sector gained.

European bourses are trending mixed with Germany and France among the losers while London is gaining as equities outperform the pound.

The World Economic Forum begins in Davos, Switzerland.

Wall Street is closed but the TSX is expected to open higher. Canadian existing home sales data is due.
 
  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 15,497.28 (+0.51 per cent) +1.61 per cent +28.36 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,338.05 (+0.00 per cent) +4.66 per cent +26.43 per cent
German DAX 11,564.97 (-0.55 per cent) +1.41 per cent +21.16 per cent
 
Asia (at close)
China CSI 300 3,319.45 (-0.01 per cent) -0.79 per cent +6.44 per cent
Japan Nikkei 19,095.24 (-1.00 per cent) -1.58 per cent +11.36 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
55.71
(+0.47 per cent)
52.69
(+0.61 per cent)
1201.80
(+0.47 per cent)
U$0.7621
 
Aus. Dollar
U$0.7498

8 billionaires worth more than half the world
A report from Oxfam International says that eight men now control as much wealth as 3.6 billion of the world’s poorest.

Bill Gates, Warren Buffett, Carlos Slim, Jeff Bezos, Mark Zuckerberg, Amancio Ortega, Larry Ellison and Michael Bloomberg control $426 billion while overall the richest 1 per cent control more wealth than the rest of the world.

The charity says that the gap between the super-rich and the rest of us has widened and such inequality is “trapping millions in poverty, fracturing our societies, and poisoning our politics.”