World markets lower, politics on focus... OPEC sec-gen says 5-year average is target for inventories...
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Equity markets are trending lower Wednesday following a weak session on Wall Street yesterday and wide-ranging political concerns.
While Asian markets are focused on tension surrounding North Korea, for Europe it is elections that are dominating. Adding to those already called, not least the French presidential race, the British PM called a snap general election for June 8 which it’s hoped will give her government
a mandate as Brexit talks begin.
Asia’s main indexes closed mostly lower, led by Shanghai and Sydney as materials and financials declined. Tokyo outperformed its peers to close slightly up.
European markets are trending higher following positive trade and consumer price data for the Eurozone. London is lower following the election call.
Wall Street and Toronto are expected to open higher. US oil and gasoline inventory data is due.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
20,523.28 (-0.55 per cent) |
-1.87 per cent |
+13.68 per cent |
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TSX Composite |
15,622.57 (-0.40 per cent) |
+0.85 per cent |
+12.66 per cent |
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Europe (at 5.00am ET) |
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UK FTSE |
7,140.20 (-0.10 per cent) |
-3.84 per cent |
+11.47 per cent |
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German DAX |
12,032.91 (+0.27 per cent) |
-0.52 per cent |
+16.26 per cent |
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Asia (at close) |
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China CSI 300 |
3,446.08 (-0.48 per cent) |
+0.01 per cent |
+6.42 per cent |
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Japan Nikkei |
18,432.20 (+0.07 per cent) |
-5.58 per cent |
+9.23 per cent |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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54.93 (+0.07 per cent) |
52.43 (-0.04 per cent) |
1284.30 (-0.76 per cent) |
U$0.7450 |
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Aus. Dollar |
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U$0.7518 |
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OPEC sec-gen says 5-year average is target for inventories
The supply cuts implemented by OPEC and some non-OPEC oil producing nations this year may continue when they are reviewed on May 25 and the organization’s secretary general says they have a target.
Mohammad Barkindo told Reuters that the aim is for the global supply glut to reduce to the 5-year average and stabilize the market. He also said that compliance among members improved in March compared to February.
US crude prices were steady at $52.43 in early trading ahead of industry inventory data later.
