Morning Briefing: Stocks lower on weak global trade report

Morning Briefing: Stocks lower on weak global trade report

Morning Briefing: Stocks lower on weak global trade report Stocks lower on weak global trade report
Global stock markets are generally lower so far Monday as a weak report on world trade was exacerbated by poor data on Chinese exports.

The OECD says that it believes world trade has dropped to levels near to those normally associated with a global recession but that countries are taking steps to reverse the decline. The organization’s report comes as China reported a 6.9 per cent decline in October’s exports compared to a year earlier.

The expected global growth forecast by the OECD was revised downwards to 2.9 per cent for 2015, from 3.0 per cent in September with world trade down to 2 per cent. It called the figures “deeply concerning” but expects global output growth to hit 3.3 per cent in 2016 and noted that policy decisions being taken by countries including China should help ease the weakness.

Asian markets closed mainly lower with Shanghai and Tokyo outperforming.

European markets are generally lower with London outperforming.

Toronto and Wall Street are expected to open lower.
 
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North America (previous session)
US Dow Jones 17,910.33 (+0.26 per cent) +4.83 per cent +1.91 per cent
TSX Composite 13,553.30 (-0.04 per cent) -2.94 per cent -7.74 per cent
 
Europe (at 6.10am ET)
UK FTSE 6,359.60 (+0.09 per cent) -0.88 per cent -3.16 per cent
German DAX 10,962.19 (-0.24 per cent) +8.57 per cent +17.98 per cent
 
Asia (at close)
China CSI 300 3,840.36 (+1.24 per cent) +14.98 per cent +53.48 per cent
Japan Nikkei 19,642.74 (+1.96 per cent) +6.53 per cent +16.36 per cent
 
Other Data (at 6.15am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
47.72
(+0.63 per cent)
44.45
(+0.36 per cent)
1091.40
(+0.34 per cent)
U$0.7523
 
Aus. Dollar
U$0.7057
 
China allows IPOs again
A ban on IPOs imposed four months ago in China has been lifted. State media says that there could now be as many as 28 offerings before the end of the year. The stock markets in China have recovered from the rout earlier in the year which caused panic around the world as Shanghai went into freefall.