Morning Briefing: Oil in focus, markets lower

Oil in focus, markets lower... Lifeline for Toshiba as Japanese government steps in...

Morning Briefing: Oil in focus, markets lower
Oil in focus, markets lower
A 2 per cent drop in oil prices overnight has weakened sentiment among the markets Wednesday.
 
Asian indexes closed mostly lower as energy and financial stocks dragged. Shanghai performed better after MSCI said it will allow China’s A-class shares to be included in its emerging markets index. New Zealand’s central bank announces its interest rates decision later.
 
European markets are trending lower with investors waiting for detail of the UK’s plans for the 2 years ahead as the Queen’s Speech sets out the new minority government’s legislative agenda at the State Opening of Parliament. The BoE also holds is monetary policy meeting.
 
Wall Street and Toronto are expected to open lower. US crude and gasoline inventory data is due and will be closely watched amid the weak oil prices.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

21,467.14 (-0.29 per cent)

+3.18 per cent

+20.40 per cent

TSX Composite

15,149.60 (-0.76 per cent)

-2.00 per cent

+8.12 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,447.33 (-0.34 per cent)

-0.31 per cent

+19.61 per cent

German DAX

12,725.56 (-0.70 per cent)

+0.69 per cent

+27.06 per cent

 

Asia (at close)

China CSI 300

3,587.96 (+1.17 per cent)

+5.41 per cent

+15.51 per cent

Japan Nikkei

20,138.79 (-0.45 per cent)

+2.80 per cent

+24.55 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

45.85

(-0.37 per cent)

43.41

(-0.23 per cent)

1247.00

(+0.28 per cent)

U$0.7527

 

Aus. Dollar

U$0.7570
 
Lifeline for Toshiba as Japanese government steps in
Under-pressure tech firm Toshiba has been thrown a lifeline by the Japanese government.
 
State-backed fund Innovation Corporation Network is to buy Toshiba’s chip business for around U$18 billion in order to help protect the firm from bankruptcy.
 
Toshiba has been struggling following the collapse of its US nuclear business Westinghouse Electric and with 100,000 employees in Japan and key roles in transportation and energy sectors in the country, it is essentially too big to fail.
 

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