Oil gains ahead of OPEC... US lenders at risk from credit deterioration says Fitch...
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Oil gains ahead of OPEC
Markets are awaiting next week’s meeting of OPEC members against the backdrop of larger US stock draws alongside reportedly weak compliance among some of the cartel’s members. Prices are edging higher.
Asian equity markets closed mostly lower Friday as investors considered the comments made by ECB president Mario Draghi in the previous session. The European Central Bank held interest rates steady and Australia’s Reserve Bank chief said Friday that he will not necessarily increase rates even as others do.
European indexes are trending higher with the ECB, OPEC and corporate earnings in focus. The Euro has surged following the ECB decision. The IMF has agreed a new U$1.8 billion loan for Greece in return for continued reforms.
Wall Street and Toronto are expected to open higher. Canadian CPI and retail data is due.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
21,611.78 (-0.13%) |
+0.94% |
+16.71% |
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TSX Composite |
15,264.64 (+0.13%) |
-0.77 % |
+4.80% |
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Europe (at 5.00am ET) |
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UK FTSE |
7,508.98 (+0.28%) |
+0.82% |
+12.08% |
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German DAX |
12,457.78 (+0.08%) |
-2.48% |
+27.48% |
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Asia (at close) |
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China CSI 300 |
3,728.60 (-0.51%) |
+3.92% |
+14.64% |
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Japan Nikkei |
20,099.75 (-0.22%) |
-0.19% |
+19.57% |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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49.57 (+0.55%) |
47.16 (+0.51%) |
1246.80 (+0.10%) |
U$0.7952 |
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Aus. Dollar |
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U$0.7928 |
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US lenders at risk from credit deterioration says Fitch
Consumer loan losses at US financial institutions are at unsustainable cyclical lows with a more meaningful amount of credit deterioration expected in the near to medium term Fitch warns.
Its latest assessment of the market highlights that individual lenders will be affected by weaker credit performance depending on the diversity of their lending activities and the capital buffers they have in place to mitigate losses.
Credit cards and sub-prime auto loans are the biggest threat to overall credit quality but less of a risk to the financial system than the mortgage market was ahead of the financial crisis.
