Morning Briefing: World markets lower, politics on focus

Morning Briefing: World markets lower, politics on focus

Morning Briefing: World markets lower, politics on focus World markets lower, politics on focus

Equity markets are trending lower Wednesday following a weak session on Wall Street yesterday and wide-ranging political concerns.
While Asian markets are focused on tension surrounding North Korea, for Europe it is elections that are dominating. Adding to those already called, not least the French presidential race, the British PM called a snap general election for June 8 which it’s hoped will give her government
a mandate as Brexit talks begin.

Asia’s main indexes closed mostly lower, led by Shanghai and Sydney as materials and financials declined. Tokyo outperformed its peers to close slightly up.

European markets are trending higher following positive trade and consumer price data for the Eurozone. London is lower following the election call.

Wall Street and Toronto are expected to open higher. US oil and gasoline inventory data is due.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

20,523.28 (-0.55 per cent)

-1.87 per cent

+13.68 per cent

TSX Composite

15,622.57 (-0.40 per cent)

+0.85 per cent

+12.66 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,140.20 (-0.10 per cent)

-3.84 per cent

+11.47 per cent

German DAX

12,032.91 (+0.27 per cent)

-0.52 per cent

+16.26 per cent

 

Asia (at close)

China CSI 300

3,446.08 (-0.48 per cent)

+0.01 per cent

+6.42 per cent

Japan Nikkei

18,432.20 (+0.07 per cent)

-5.58 per cent

+9.23 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

54.93

(+0.07 per cent)

52.43

(-0.04 per cent)

1284.30

(-0.76 per cent)

U$0.7450

 

Aus. Dollar

U$0.7518



OPEC sec-gen says 5-year average is target for inventories

The supply cuts implemented by OPEC and some non-OPEC oil producing nations this year may continue when they are reviewed on May 25 and the organization’s secretary general says they have a target.

Mohammad Barkindo told Reuters that the aim is for the global supply glut to reduce to the 5-year average and stabilize the market. He also said that compliance among members improved in March compared to February.

US crude prices were steady at $52.43 in early trading ahead of industry inventory data later.