Oil in bull market, Fed causes concern... Whistleblower turns down $8 million reward...
Oil in bull market, Fed causes concern
Oil prices eased overnight but remain in a bull market with experts predicting an underlying lift for the sector between now and a meeting of oil producers towards the end of next month.
The main force in play Friday is the Fed. Its latest monetary policy meeting minutes released this week left the door open for a September rate rise and markets are cautious.
Asian indexes were largely positive for the week’s final session. Tokyo recovered from a stronger yen to close higher but posted a weekly loss. Sydney is also down over the week but the session closed higher. Australia’s major banks were given an upgraded outlook by Moody’s from negative to stable.
European bourses are trending lower as the main wave of the earnings sector has given way to a focus on the Fed.
Wall Street and Toronto are expected to open slightly higher. Canadian CPI data is due this morning.
Whistleblower turns down $8 million reward
A former banking executive has turned down a $8.25 million reward from the US Securities and Exchange Commission because he says it did not go far enough in investigating overvaluing of a derivatives portfolio.
In a column published in today’s Financial Times, Eric Ben-Artzi said he did not want his share of the reward for whistle-blowing on Deutsche Bank because “I will not join the looting of the very people I was hired to protect.”
Oil prices eased overnight but remain in a bull market with experts predicting an underlying lift for the sector between now and a meeting of oil producers towards the end of next month.
The main force in play Friday is the Fed. Its latest monetary policy meeting minutes released this week left the door open for a September rate rise and markets are cautious.
Asian indexes were largely positive for the week’s final session. Tokyo recovered from a stronger yen to close higher but posted a weekly loss. Sydney is also down over the week but the session closed higher. Australia’s major banks were given an upgraded outlook by Moody’s from negative to stable.
European bourses are trending lower as the main wave of the earnings sector has given way to a focus on the Fed.
Wall Street and Toronto are expected to open slightly higher. Canadian CPI data is due this morning.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,597.70 (+0.13 per cent) | +0.35 per cent | +6.20 per cent |
| TSX Composite | 14,695.68 (-0.01 per cent) | +1.18 per cent | +4.70 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 6,851.07 (-0.26 per cent) | +2.29 per cent | +6.99 per cent |
| German DAX | 10,505.59 (-0.92 per cent) | +5.25 per cent | -1.65 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,365.02 (-0.02 per cent) | +3.60 per cent | -13.41 per cent |
| Japan Nikkei | 16,545.82 (+0.36 per cent) | -1.06 per cent | -18.18 per cent |
| Other Data (at 4.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 50.48 (-0.81 per cent) |
47.99 (-0.47 per cent) |
1352.30 (-0.36 per cent) |
U$0.7788 |
| Aus. Dollar |
|||
| U$0.7604 | |||
Whistleblower turns down $8 million reward
A former banking executive has turned down a $8.25 million reward from the US Securities and Exchange Commission because he says it did not go far enough in investigating overvaluing of a derivatives portfolio.
In a column published in today’s Financial Times, Eric Ben-Artzi said he did not want his share of the reward for whistle-blowing on Deutsche Bank because “I will not join the looting of the very people I was hired to protect.”
