Morning Briefing: Oil weighs heavily on markets

Morning Briefing: Oil weighs heavily on markets

Morning Briefing: Oil weighs heavily on markets Oil weighs heavily on markets
World equity markets fell Wednesday as concern over falling oil prices and weak growth hit sentiment.

Comments by the Saudi oil minister that reinforced calls for a freeze on production but ruled out cuts pushed oil prices lower and Iran’s oil minister has exacerbated the situation by calling the Saudi-led freeze a “joke”.

Asian markets closed lower, led by Sydney which was down more than 2 per cent. Shanghai was the outlier with slim gains.

In Europe, oil is also the main concern although growth and the potential for the UK to leave the EU are all weighing on investor sentiment.

Wall Street and Toronto are expected to open lower. Markets will be watching the EIA Petroleum Status Report due at 10.30am ET.
 
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North America (previous session)
US Dow Jones 16,431.78 (-1.14 per cent) +2.10 per cent -9.76 per cent
TSX Composite 12,763.44 (-0.64 per cent) +3.02 per cent -15.84 per cent
 
Europe (at 5.30am ET)
UK FTSE 5,887.73 (-1.25 per cent) -0.21 per cent -15.28 per cent
German DAX 9,239.03 (-1.89 per cent) -5.39 per cent -17.55 per cent
 
Asia (at close)
China CSI 300 3,109.55 (+0.65 per cent) -0.13 per cent -11.72 per cent
Japan Nikkei 15,915.79 (-0.85 per cent) -6.15 per cent -14.45 per cent
 
Other Data (at 6.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
32.65
(-1.86 per cent)
30.94
(-2.92 per cent)
1234.50
(­+0.97 per cent)
U$0.7237
 
Aus. Dollar
U$0.7170

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