World markets rise as investors hope for China stimulus

HONG KONG - Most world stock markets advanced Tuesday in light trading after China's leaders held out the hope of more stimulus to combat weakness in the world's No.

See Full Article

2 economy.

KEEPING SCORE: European stocks were mostly higher in early trading, with Britain's FTSE 100 index rising 0.6 per cent to 6,070.66 while Germany's DAX gained 0.3 per cent to 10,530.46. France's CAC 40 edged up 0.1 per cent to 4,566.09. U.S. stocks were poised for a flat open, with Dow futures practically unchanged at 17,178.00 and broader S&P 500 futures steady at 2,015.00.

CHINA ECONOMY: Leaders in Beijing wrapped up their annual planning meeting Monday with renewed promises to promote economic growth. The Chinese government said it would be more proactive and flexible when it comes to using fiscal and monetary policy in order to keep growth in a "proper range," the official Xinhua news agency said, citing an official statement. That's raised hopes among some investors that Beijing will take more steps to support flagging growth in the world's No. 2 economy.

ANALYST VIEWPOINT: "There is one word that seems to be directing the markets in quiet pre-Christmas trade: China," Angus Nicholson of IG wrote in a commentary. "The pause in the devaluation of the renminbi and announcements of further fiscal and monetary easing from the Central Economic Work Conference have been moving equities and currencies upwards."

ASIAN SCORECARD: Regional benchmarks spent the early part of the day in negative territory before closing higher. The exception was Japan's Nikkei 225, which finished 0.2 per cent lower at 18,918.31. South Korea's Kospi climbed 0.6 per cent to 1,992.56 while Hong Kong's Hang Seng rose 0.2 per cent to 21,830.02. The Shanghai Composite Index in mainland China added 0.3 per cent to 3,651.77 and Australia's S&P/ASX 200 crept up 0.2 per cent to 5,116.60. Indexes in Taiwan, Singapore, the Philippines, Indonesia and New Zealand also gained.

ENERGY: U.S. crude oil futures climbed 33 cents to $36.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to settle at $35.81 a barrel on Monday. Brent crude, which is used to price international oils, was up 27 cents to $36.62 a barrel in London.

CURRENCIES: The euro rose to $1.0923 from $1.0909 in the previous day's trading. The dollar slipped to 121.00 yen from 121.10 yen.



Advertisements

Latest Economic News

  • Walmart, J.B. Hunt truck operations sign up for Tesla's all-electric Semi

    Economic CBC News
    Walmart is planning to test Tesla's electric trucks in Canada and the U.S., it said Friday, just a day after the unveiling of the all-electric Tesla Semi. The retail giant becomes the second U.S. company to commit to trying the new technology as an alternative to diesel, after J.B. Source
  • Quebec biofuel company partners with Qantas in effort to cut emissions

    Economic CBC News
    A Quebec biofuels company has signed its first deal to power an airline's jets with energy grown from Canadian oilseeds. Agrisoma Biosciences Inc. of Gatineau will supply biofuel to Australia's Qantas Airways made from Carinata seed, a non-food, industrial type of mustard seed that produces oil suitable for aviation and diesel fuel. Source
  • Bombardier to hire 1000 workers in Montreal for Global 7000 business jet

    Economic CTV News
    Bombardier confirmed this morning that it will hire about 1,000 workers over the next 18 months for its new Global 7000 business jet. The workers will complete the interiors for the company's largest business aircraft. Source
  • Bombardier hiring 1,000 to work on Global 7000 aircraft

    Economic CBC News
    Bombardier is hiring about 1,000 workers in the Montreal area to work on its Global 7000 business aircraft program, the company said Friday. The company said the workers will be hired over the next 18 months for interior completion work on the aircraft. Source
  • Teck outlines plan to spend nearly $500 million on dividends, stock buybacks

    Economic CTV News
    VANCOUVER -- Teck Resources has announced plans to issue a special dividend to its shareholders, in addition to its regular dividend, and increase its share buyback program by $230 million. The diversified mining company, based in Vancouver, says the two measures are being taken because of Teck's strong cash position. Source
  • Why aren't drivers catching a break at the pumps?

    Economic CTV News
    There may be no fact of life more confounding to ordinary Canadians than gas prices. They seem to go up at the first whisper of climbing oil prices, but don’t fall nearly as fast when barrels of oil sell for less. Source
  • Thousands more names and companies revealed from Paradise Papers

    Economic CBC News
    The public will get a glimpse at the tens of thousands of names — including those of more than 3,000 Canadians and Canadian companies — in the Paradise Papers starting today. Key information from the huge leak of tax-haven financial records, including the names of offshore companies and the people behind them, is being made public by the International Consortium of Investigative Journalists (ICIJ), the Washington-based group that co-ordinated global reporting on the documents. Source
  • Bombardier announcement LIVE

    Economic CBC News
    Air Date: Nov 17, 2017 10:00 AM ET Source
  • 'Clock is ticking': EU leaders warn broadening of Brexit talks could be in doubt

    Economic CTV News
    GOTEBORG, Sweden -- European Union leaders warned Britain Friday that it must do much more to convince them that Brexit talks should be broadened to cover future relations and trade from December. At an EU summit in Sweden, Prime Minister Theresa May's government was urged to clarify how much Britain will pay in settlement of its financial accounts with the bloc and to ensure that there is no hard border created between Ireland and Northern Ireland. Source
  • Qantas signs long-term deal to power its jets with Canadian oilseeds

    Economic CTV News
    MONTREAL -- A Quebec biofuels company has signed its first deal to power an airline's jets with energy grown from Canadian oilseeds. Agrisoma Biosciences Inc. of Gatineau will supply biofuel to Australia's Qantas Airways made from Carinata seed, a non-food, industrial type of mustard seed that produces oil suitable for aviation and diesel fuel. Source