Morning Briefing: Oil rally boosts markets

Oil rally boosts markets... Citi increases chance of a Trump win...

Steve Randall
Oil rally boosts markets
Oil prices have gained overnight as fresh unrest in Libya threatens supplies and the president of Venezuela gives hope that a deal will be reached between producers this month to stabilize the market.

The rise for oil has boosted equity markets with Asian and European indexes in positive territory.

Asia’s main indexes closed with gains as oil prices were eyed along with this week’s Fed and BoJ meetings. Sydney closed early in the session due to a technical issue.

European markets are also higher with London’s FTSE up more than 1.5 per cent so far. An analysts and investors are all but ruling out a Fed interest rate rise following some less impressive data releases.

Wall Street and Toronto are expected to open higher although New York’s exchanges may suffer from caution following a series of bomb blasts in the city and New Jersey.
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North America (previous session)
US Dow Jones 18,123.80 (-0.49 per cent) -2.31 per cent +10.61 per cent
TSX Composite 14,450.69 (-0.37 per cent) -1.61 per cent +5.89 per cent
Europe (at 4.30am ET)
UK FTSE 6,804.65 (+1.41 per cent) -0.79 per cent +11.48 per cent
German DAX 10,346.35 (+0.68 per cent) -1.88 per cent +4.34 per cent
Asia (at close)
China CSI 300 3,263.12 (+0.75 per cent) -3.84 per cent +3.52 per cent
Japan Nikkei 16,519.29 (+0.70 per cent) -0.16 per cent -8.58 per cent
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
(+1.27 per cent)
(+1.60 per cent)
(+0.63 per cent)
Aus. Dollar
Citi increases chance of a Trump win
Donald Trump’s chance of becoming US president has increased according to Citi Group. Its political analysts have increased his chance to 40 per cent and reduced Hillary Clinton to 60 per cent.

The reason is an “enthusiasm gap” which could see Trump supporters more likely to vote. Citi says that with other candidates removed, Clinton are Trump are tied.