Morning Briefing: Stocks mixed on data

Morning Briefing: Stocks mixed on data

Morning Briefing: Stocks mixed on data Stocks mixed on data
Data is in focus so far Monday with several metrics from the Eurozone and a forecast from Australia which has hit miners.

Asian markets closed with varying degrees of sentiment as investors considered how close the Dow had come to 20,000 Friday and digested a forecast from the Australian government that iron ore prices are set to slump from $80 per tonne now to around $51.60 during 2017 and $46.70 in 2018.

Despite the hit for miners, Sydney was one of the stronger Asian markets Monday along with Shanghai and Hong Kong. Seoul was lower following new rhetoric on missile launches from its neighbour to the north. Tokyo was closed for a public holiday.

European markets have data to consider. Business sentiment in the Eurozone and German industrial production figures ticked higher while key unemployment data is due later. The UK economy continues to defy Brexit-related forecasts and London’s FTSE is the only major market trending higher in early trading, although the pound is at a 2-month low following comments made by British PM Theresa May that the deal with the EU is likely to mean an exit from the single market along with the EU institutions.

Wall Street and Toronto are expected to open higher. Canadian future sales data and US consumer credit figures are due.
  Latest 1 month ago 1 year ago
North America (previous session)
US Dow Jones 19,963.80 (+0.32 per cent) +1.05 per cent +22.13 per cent
TSX Composite 15,496.05 (-0.58 per cent) +1.20 per cent +24.51 per cent
Europe (at 5.00am ET)
UK FTSE 7,230.81 (+0.29 per cent) +3.98 per cent +22.30 per cent
German DAX 11,545.72 (-0.46 per cent) +3.05 per cent +17.22 per cent
Asia (at close)
China CSI 300 3,363.90 (+0.48 per cent) - 3.72 per cent -0.07 per cent
Japan Nikkei 19,454.33 (-0.34 per cent) +2.41 per cent +9.92 per cent
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
(-1.70 per cent)
(-1.57 per cent)
(+0.34 per cent)
Aus. Dollar

VW diesel scandal escalates as FBI arrest exec on fraud charges
The global diesel emissions scandal which engulfed Volkswagen has taken a new turn with the FBI arresting one of the auto maker’s executives alleging conspiracy to defraud the United States.

The New York Times says that Oliver Schmidt, the head of VW’s regulatory compliance office in the US was arrested Saturday in Florida and is expected to be in court in Detroit Monday.

The emissions scandal centred on so-called ‘defeat devices’ which allowed VW to show lower emissions in tests, creating the illusion that vehicles were ‘greener’ than they were.

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