Morning Briefing: Markets plunge on oil, terror attacks

Morning Briefing: Markets plunge on oil, terror attacks

Morning Briefing: Markets plunge on oil, terror attacks Markets plunge on oil, terror attacks
Global stock markets are trading lower so far Thursday as oil prices weigh along with news that a terrorist attack has killed at least 7 people in Jakarta.

Asian markets were already weakened by the poor handover from North America and with confidence at a low even some positive movement on oil prices was not enough to avoid another sell-off. Only Shanghai managed to erase losses to close up 2 per cent.

European indexes are lower too on a range of concerns. Locally French car maker Renault lost value on news of a fraud investigation.

Wall Street and Toronto are expected to open slightly lower ahead of US jobs data and trade figures.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 16,151.41 (-2.21 per cent) -6.45 per cent -8.30 per cent
TSX Composite 12,170.41 (-1.64 per cent) -4.14 per cent -13.59 per cent
 
Europe (at 5.00am ET)
UK FTSE 5,849.30 (-1.87 per cent) -0.42 per cent -8.44 per cent
German DAX 9,681.50 (-2.81 per cent) -4.52 per cent -1.38 per cent
 
Asia (at close)
China CSI 300 3,221.57 (+2.08 per cent) -13.20 per cent -8.02 per cent
Japan Nikkei 17,240.95 (-2.68 per cent) -8.70 per cent +2.65 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
30.70
(+1.29 per cent)
30.74
(+0.85 per cent)
1091.80
(+0.43 per cent)
U$0.6949
 
Aus. Dollar
U$0.6919
 
Don’t ignore the weak demand for oil says economist
While much of the decline in oil prices is centred on the continued oversupply there is also the issue of lower demand, and not just from China. Stephen King of HSBC told CNBC that some of the emerging markets are showing “extremely weak” growth and said that the low oil prices should be viewed as a “symptom of weakness in global demand.” He points to a cocktail of economic concerns including low investment, high debt and slowing trade and warns that debt levels in particular could stifle the ability for the global economy to grow.