Morning Briefing: Geopolitics weighs on markets

Geopolitics weighs on markets... Oil prices fluctuate on politics, oversupply...

Steve Randall
Geopolitics weighs on markets
Markets have been trying hard to shake off concerns of increased geopolitical tension Wednesday following the shooting down of a Russian fighter jet by Turkish forces.

Asian indexes have closed mostly lower as oil and other commodities exacerbate caution from investors. Only Shanghai has managed a stronger finish.

In Europe equities have increased so far despite the Russia-Turkey tension. Travel industry stocks have seen some resurgence having been hit by recent events. The UK is in focus ahead of Chancellor George Osbourne’s Autumn Statement which will set out the government’s five –year spending plan.

Wall Street is expected to open higher following Tuesday’s GDP figures and Toronto is also predicted to open higher.
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North America (previous session)
US Dow Jones 17,812.19 (+0.11 per cent) +0.94 per cent -0.02 per cent
TSX Composite 13,407.83 (+0.19 per cent) -3.91 per cent -11.05 per cent
Europe (at 6.00am ET)
UK FTSE 6,333.22 (+0.89 per cent) -1.72 per cent - 5.91 per cent
German DAX 11,076.16 (+1.30 per cent) +2.61 per cent +12.32 per cent
Asia (at close)
China CSI 300 3,781.61 (+0.74 per cent) +5.89 per cent +40.81 per cent
Japan Nikkei 19,847.58 (-0.39 per cent) +5.43 per cent +14.02 per cent
Other Data (at 6.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
(-1.17 per cent)
(+1.14 per cent)
(-0.13 per cent)
Aus. Dollar

Oil prices fluctuate on politics, oversupply
The price of West Texas crude has gained by more than 1 per cent overnight while the benchmark Brent crude has declined by a similar amount. Markets are awaiting data from the US Energy Information Administration late in the session but initial reports suggest higher stockpiles amid a still-growing global supply glut. The tension in the Middle East and the Russia-Turkey dispute have had an impact but is not seen a major disruptor to supplies.