Markets begin 2017 positive... 18-month high for oil...
Markets begin 2017 positive
There is an optimistic tone to world markets so far Tuesday as many reopened for the first time in 2017.
Asian indexes were boosted by private PMI data showing a stronger performance from the mainland’s manufacturers, although official data released at the weekend had been weaker. Tokyo’s Nikkei was down slightly.
European markets are trending higher with manufacturing data for the region also showing positive signs. German employment figures are due along with Eurozone inflation measures.
Wall Street and Toronto are expected to open higher. US manufacturing data is due.
18-month high for oil
Oil prices have jumped 2 per cent overnight as markets weigh the introduction of output cuts agreed by OPEC and many non-OPEC members before Christmas.
The curbs came into force Sunday and analysts are hopeful that they will make a significant impact on the global supply glut.
However, some countries have not signed up to the deal and are reportedly increasing output which could affect the long-term effectiveness of the deals and may see those who committed to cuts becoming disillusioned as the year proceeds.
There is an optimistic tone to world markets so far Tuesday as many reopened for the first time in 2017.
Asian indexes were boosted by private PMI data showing a stronger performance from the mainland’s manufacturers, although official data released at the weekend had been weaker. Tokyo’s Nikkei was down slightly.
European markets are trending higher with manufacturing data for the region also showing positive signs. German employment figures are due along with Eurozone inflation measures.
Wall Street and Toronto are expected to open higher. US manufacturing data is due.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 19,762.60 (-0.29 per cent) | +3.09 per cent | +13.42 per cent |
| TSX Composite | 15,287.59 (-0.87 per cent) | +1.56 per cent | +17.51 per cent |
| Europe (at 5.00am ET) |
|||
| UK FTSE | 7,169.30 (+0.35 per cent) | +6.50 per cent | +14.83 per cent |
| German DAX | 11,610.40 (+0.10 per cent) | +10.43 per cent | +8.07 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,342.23 (+0.97 per cent) | -5.29 per cent | -10.42 per cent |
| Japan Nikkei | 19,114.37 (-0.16 per cent) | +3.74 per cent | +0.42 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 58.08 (+2.22 per cent) |
54.96 (+2.31 per cent) |
1149.00 (+0.19 per cent) |
U$0.7449 |
| Aus. Dollar |
|||
| U$0.7210 | |||
18-month high for oil
Oil prices have jumped 2 per cent overnight as markets weigh the introduction of output cuts agreed by OPEC and many non-OPEC members before Christmas.
The curbs came into force Sunday and analysts are hopeful that they will make a significant impact on the global supply glut.
However, some countries have not signed up to the deal and are reportedly increasing output which could affect the long-term effectiveness of the deals and may see those who committed to cuts becoming disillusioned as the year proceeds.
