Oil prices rebound on analysis... Can Hollywood producers be lured to China?...
Oil prices rebound on analysis
Some energy market analysts believe that the global oil glut may not be as large as previously thought as the winter approaches. The comments have boosted sentiment Tuesday with oil prices reversing losses in the previous session.
The rebound for oil along with a rise for metals has added strength to equities with Asian markets closing higher, led by Shanghai and Hong Kong.
European indexes are trending higher with France leading. UK consumer prices showed a 1 per cent rise year-over-year while producer prices fell short of expectations. Most economists surveyed by Bloomberg believe that BoE governor Mark Carney will announce an interest rate cut on November 3.
Wall Street and Toronto are expected to open higher. US consumer prices data is awaited.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 18,086.40 (-0.29 per cent) | -0.21 per cent | +5.06 per cent |
| TSX Composite | 14,596.52 (+0.08 per cent) | +1.01 per cent | +5.48 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 7,024.58 (+1.11 per cent) | +4.68 per cent | +10.14 per cent |
| German DAX | 10,623.25 (+1.14 per cent) | +3.38 per cent | +5.13 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,321.33 (+1.33 per cent) | +2.55 per cent | -6.02 per cent |
| Japan Nikkei | 16,963.61 (+0.38 per cent) | +2.69 per cent | -7.26 per cent |
| Other Data (at 2.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 51.91 (+0.76 per cent) |
50.40 (+0.92 per cent) |
1263.30 (+0.53 per cent) |
U$0.7652 |
| Aus. Dollar |
|||
| U$0.7678 | |||
Can Hollywood producers be lured to China?
A Chinese company hopes to tempt Hollywood producers to switch production from popular locations including Canada, to its new $5 billion studios facility in Qingdao.
Dalian Wanda Group has been wooing movie executives in LA with a $750 million incentive to use its new production facility when it opens in 2018.
CNBC reports that the incentive will include a range of subsidies and benefits from connections with Chinese movie companies.
Jian Wang told executives that the Chinese market for movies is expanding. His company has already acquired US cinema chains AMC and Carmike and is hoping to buy Dick Clark Productions.
