China re-opens, Tokyo surges 7 per cent... Oil gains, Russia hopes for stronger Iran-Saudi link...
China re-opens, Tokyo surges 7 per cent
World markets are generally higher Monday with Tokyo surging more than 7 per cent following the sell-offs of last week. There is also growing expectation of further stimulus for the economy with official GDP data released Monday showing a 1.4 per cent contraction of the economy in the fourth quarter of 2015; analysts had expected 1.2 per cent.
Shanghai re-opened after a week-long break but closed lower after weak trade data showed lower-than-expected imports and exports in January (down 18.8 per cent and 11.2 per cent respectively.) The Chinese central bank fixed the yuan at a higher rate easing fears of global deflation.
European markets shook-off Chinese data and are up so far with mining and banking showing strong gains. Frankfurt and Paris are up around 3 per cent and London is up 2 per cent on news that HSBC has decided to keep its global headquarters in the city.
Wall Street and Toronto are both closed for public holidays.
Oil gains, Russia hopes for stronger Iran-Saudi link
Oil prices are rising Monday despite weak Chinese data and the larger-than-expected contraction of Japan’s economy. Speculation of OPEC cutting production continue and a Russian foreign ministry official has been quoted calling for stronger links between Iran and Saudi Arabia. Zamir Kabulov is said to believe that it would help oil prices if the two nations had a closer bond. The RIA news agency reports that Kabulov said: "We all need stability on the oil market and a return to normal prices.”
World markets are generally higher Monday with Tokyo surging more than 7 per cent following the sell-offs of last week. There is also growing expectation of further stimulus for the economy with official GDP data released Monday showing a 1.4 per cent contraction of the economy in the fourth quarter of 2015; analysts had expected 1.2 per cent.
Shanghai re-opened after a week-long break but closed lower after weak trade data showed lower-than-expected imports and exports in January (down 18.8 per cent and 11.2 per cent respectively.) The Chinese central bank fixed the yuan at a higher rate easing fears of global deflation.
European markets shook-off Chinese data and are up so far with mining and banking showing strong gains. Frankfurt and Paris are up around 3 per cent and London is up 2 per cent on news that HSBC has decided to keep its global headquarters in the city.
Wall Street and Toronto are both closed for public holidays.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 15,973.84 (+2.00 per cent) | -0.09 per cent | -11.35 per cent |
| TSX Composite | 12,381.24 (+2.43 per cent) | +2.55 per cent | -18.89 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE | 5,807.41 (+1.75 per cent) | -0.06 per cent | -15.51 per cent |
| German DAX | 9,187.78 (+2.46 per cent) | -3.75 per cent | -16.20 per cent |
| Asia (at close) |
|||
| China CSI 300 | 2,946.71 (-0.58 per cent) | -12.34 per cent | -11.04 per cent |
| Japan Nikkei | 16,022.58 (+7.16 per cent) | -6.56 per cent | -10.56 per cent |
| Other Data (at 5.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 33.77 (+1.05 per cent) |
29.89 (+1.53 per cent) |
1241.70 (-0.49 per cent) |
U$0.7233 |
| Aus. Dollar |
|||
| U$0.7147 | |||
Oil gains, Russia hopes for stronger Iran-Saudi link
Oil prices are rising Monday despite weak Chinese data and the larger-than-expected contraction of Japan’s economy. Speculation of OPEC cutting production continue and a Russian foreign ministry official has been quoted calling for stronger links between Iran and Saudi Arabia. Zamir Kabulov is said to believe that it would help oil prices if the two nations had a closer bond. The RIA news agency reports that Kabulov said: "We all need stability on the oil market and a return to normal prices.”
