Morning Briefing: Oil, equities fall but gain over the week

Morning Briefing: Oil, equities fall but gain over the week

Morning Briefing: Oil, equities fall but gain over the week Oil, equities fall but gain over the week
Oil prices have turned downwards with US stockpiles and global growth concerns weighing although prices are set to end the week higher than at the start; the main boost coming from the proposed cap on output by some major producing nations.

Equities are also set to end the week higher but have been turbulent so far Friday. Asian markets closed mostly lower following a weak lead from Wall Street. Tokyo’s Nikkei was off by 1.42 per cent as the yen strengthened against the US dollar, hitting exporters.

In Europe, markets are also lower with earnings in focus.

Wall Street and Toronto are expected to open lower.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 16,413.43 (-0.25 per cent) +2.48 per cent -8.74 per cent
TSX Composite 12,931.36 (+0.50 per cent) +7.74 per cent -14.82 per cent
 
Europe (at 5.30am ET)
UK FTSE 5,964.55 (-0.12 per cent) +1.49 per cent -13.42 per cent
German DAX 9,411.74 (-0.55 per cent) -2.61 per cent -14.45 per cent
 
Asia (at close)
China CSI 300 3,051.59 (-0.07 per cent) -5.32 per cent -13.36 per cent
Japan Nikkei 15,967.17 (-1.42 per cent) -6.34 per cent -12.58 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
33.78
(-1.46 per cent)
30.18
(-1.92 per cent)
1225.20
(-0.09 per cent)
U$0.7255
 
Aus. Dollar
U$0.7108

M&A activity has fallen so far this year
Mergers and acquisition activity is down 23 per cent so far this year compared to 2015 according to Thomson Reuters. There have been $336 billion worth of deals globally but oil prices and growth downgrades have made transactions riskier. Foreign takeovers of US firms has been strong though, with a high level of Chinese outward investment targeted towards American firms.
 
Commodities index 26 per cent lower than during the recession
Scotiabank's Commodity Price Index lost ground again in January, declining 5.1 per cent month-over-month on financial market volatility and heightened concern over the outlook for China and global growth. The All Items Index has now dropped 26 per cent below the April 2009 bottom during the last recession and is lower than a decade ago.