Morning Briefing: US stockpiles send oil prices tumbling

Morning Briefing: US stockpiles send oil prices tumbling

Morning Briefing: US stockpiles send oil prices tumbling US stockpiles send oil prices tumbling
A positive trend for oil prices lifted markets Tuesday but that good work has been undone overnight as data from API revealed an unexpected growth in US stockpiles last week.

Oil prices are down more than 1.5 per cent this morning.

Asian equity markets closed mixed with little data to focus on and investors awaiting the speech by Fed chair Janet Yellen Friday.

European indexes are also mixed with London and Frankfurt lower while Paris is up.
Wall Street and Toronto are expected to open flat.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,547.30 (+0.10 per cent) -0.13 per cent +12.68 per cent
TSX Composite 14,764.77 (+0.11 per cent) +1.12 per cent +13.12 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,852.82 (-0.23 per cent) +1.82 per cent +16.17 per cent
German DAX 10,595.92 (+0.03 per cent) +4.42 per cent +9.82 per cent
 
Asia (at close)
China CSI 300 3,329.86 (-0.36 per cent) +3.25 per cent +1.66 per cent
Japan Nikkei 16,597.30 (+0.61 per cent) -0.18 per cent -10.48 per cent
 
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
49.27
(-1.38 per cent)
47.28
(-1.70 per cent)
1342.50
(-0.27 per cent)
U$0.7742
 
Aus. Dollar
U$0.7624

 
China takes steps to curb shadow lenders
Officials in China have imposed new limits on peer-to-peer lenders following concern over the country’s shadow banking sector.

The China Banking Regulatory Commission announced Wednesday a new limit of U$150,000 borrowing from P2P sites for individuals and $750 million for corporates.

Beijing is keen to reign in the largely unregulated shadow banking sector which has seen a surge in popularity, increasing the risk to the country’s already-fragile economy.