Morning Briefing: Stocks higher despite Turkey coup

Stocks higher despite Turkey coup... Canada focused on EU trade deal, UK later...

Steve Randall
Stocks higher despite Turkey coup
The markets are starting the week on a positive note despite underlying concern over the attempted military coup in Turkey, together with the Nice terror attack and US police shootings.

Asian markets closed mostly higher in a week of little economic data for the region; Shanghai closed slightly below the water while Tokyo was closed for the Marine Day holiday.

European indexes are broadly flat, although tilting to the positive. London’s FTSE is the outperformer so far as Softbank’s $32 billion offer for semiconductor firm ARM pushed the target’s stocks higher.

Wall Street and Toronto are expected to open slightly higher.

Oil prices are holding up as the situation in Turkey has not disrupted supplies and stronger economic data from China and the US last week is lifting sentiment despite the still-high supply glut.
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North America (previous session)
US Dow Jones 18,516.55 (+0.05 per cent) +4.76 per cent +2.38 per cent
TSX Composite 14,482.42 (-0.22 per cent) +4.18 per cent -1.10 per cent
Europe (at 4.30am ET)
UK FTSE 6,699.45 (+0.45 per cent) +11.27 per cent -1.12 per cent
German DAX 10,085.09 (+0.18 per cent) +4.71 per cent -13.61 per cent
Asia (at close)
China CSI 300 3,262.02 (-0.44 per cent) +4.88 per cent -21.43 per cent
Japan Nikkei 16,497.85 (+0.68 per cent) +5.76 per cent -20.11 per cent
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
(+0.08 per cent)
(+0.00 per cent)
(+0.17 per cent)
Aus. Dollar

Canada focused on EU trade deal, UK later
Reports Sunday suggested that Canada may agree a bilateral trade deal with the UK ahead of a deal with the European Union but that has been rebuffed by the Canadian international trade minister.

Bloomberg reports that Christia Freeland says that Canada wants to seal the EU deal while the UK is still a member of the bloc, before any new deal is tabled with the UK.

The EU is dragging the trade agreement down the long route, with individual member parliaments required to ratify it rather than a single vote in the European Parliament.

Ms. Freeland’s was in London to meet with her newly appointed counterpart in the UK over the weekend in talks that the host called “fruitful”.