Morning Briefing: Stocks weak on North Korea nuclear test, ECB disappointment

Morning Briefing: Stocks weak on North Korea nuclear test, ECB disappointment

Morning Briefing: Stocks weak on North Korea nuclear test, ECB disappointment Stocks weak on North Korea nuclear test, ECB disappointment
World stock markets are generally lower Friday while oil prices have slipped back overnight following strong gains in the previous session.

Asian markets focused on claims by North Korea that it has tested a nuclear weapon. Markets also digested the European Central Bank’s decision not to add further stimulus to the flagging Eurozone economy.

There was also further weak data from China, with inflation slowing to 1.3 per cent year-over-year in August, down from 1.8 per cent and below analysts’ expectations for 1.7 per cent. Hong Kong was the only major index to show a large gain with Tokyo slightly in positive territory.

European markets are considering the ECB’s decision not to expand its stimulus measures, lower oil prices and North Korea; all major markets are trending lower.

Wall Street and Toronto are expected to open lower. Canada’s employment data is anticipated with a slight rise in unemployment expected and 14,000 new jobs.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,479.91 (-0.25 per cent) -0.27 per cent +12.05 per cent
TSX Composite 14,803.26 (+0.04 per cent) +0.01 per cent +9.40 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,849.59 (-0.13 per cent) -0.02 per cent +9.96 per cent
German DAX 10,666.70 (-0.08 per cent) -0.25 per cent +3.53 per cent
 
Asia (at close)
China CSI 300 3,318.04 (-0.64 per cent) +1.87 per cent -2.39 per cent
Japan Nikkei 16,965.76 (+0.04 per cent) +1.20 per cent -9.61 per cent
 
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
49.29
(-1.40 per cent)
46.97
(-1.36 per cent)
1340.10
(-0.11 per cent)
U$0.7727
 
Aus. Dollar
U$0.7614

 
Oil prices weaken despite larger stock draw
Oil prices were higher Thursday after official data showed a larger-than-expected stockpile in the US but profit-taking has led to a decline overnight. Prices remain higher though and are set for their best weekly increase for 3 weeks with additional support from agreements by Russia and Saudi Arabia to help stabilize the market.