Morning Briefing: Oil prices slip, World stocks mixed

Morning Briefing: Oil prices slip, World stocks mixed

Morning Briefing: Oil prices slip, World stocks mixed Oil prices slip, World stocks mixed
Oil prices are trending lower so far Wednesday with West Texas crude taking a tumble of more than 2.5 per cent. A report from the American Petroleum Institute reports that US inventory is 2.9 million barrels, higher than expectations. US government data will be released at 10.30am ET.

Equity markets are mixed with Asian indexes closing with slim gains for Shanghai, Sydney and Tokyo. The Japanese market is closed for the rest of the week but has recorded an annual gain of more than 9 per cent.

European markets are generally lower with commodity prices in focus.

Wall Street and Toronto are expected to open higher.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 17,720.98 (+1.10 per cent) -0.44 per cent -1.76 per cent
TSX Composite 13,245.75 (-0.48 per cent) -1.66 per cent -9.52 per cent
 
Europe (at 6.00am ET)
UK FTSE 6,297.32 (-0.27 per cent) -0.92 per cent -3.81 per cent
German DAX 10,825.98 (-0.31 per cent) -4.89 per cent +10.41 per cent
 
Asia (at close)
China CSI 300 3,765.18 (+0.09 per cent) +5.57 per cent +8.90 per cent
Japan Nikkei 19,033.71 (+0.27 per cent) -3.61 per cent +9.07 per cent
 
Other Data (at 6.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
37.09
(-1.85 per cent)
36.90
(-2.56 per cent)
1066.40
(-0.15 per cent)
U$0.7208
 
Aus. Dollar
U$0.7294

IMF head forecasts disappointing growth for 2016
The managing director of the International Monetary Fund believes that global growth in 2016 will be sluggish. In an article for German newspaper Handelsblatt, Christine Lagarde writes that rising US interest rates and slow growth in China were factors in an uncertain picture for the next 12 months. Weak commodity prices and slower global trade are also contributing to her view that “global growth will be disappointing and uneven in 2016.”
 
New Goldcorp chief says prices won’t recover yet
The incoming CEO of Goldcorp Inc. says that gold prices are likely to remain under pressure for some time due to upward pressure from interest rates. David Garofalo takes over as boss of the Vancouver-based global producer in April and told the Globe and Mail that there could be “a couple of years of grinding ahead of us.”