Asia mixed, Europe drifts downward as trading resumes after Christmas break

FRANKFURT -- Global stock trading resumed Monday with a case of the post-Christmas blahs.

Shares closed mixed in Asia and drifted lower in Europe with little news to propel trading during the last week of the year.

See Full Article

Wall Street appeared headed lower ahead of the resumption of trading after the Christmas holiday Friday.

Oil prices dipped after their modest recovery last week with both U.S. and international Brent crude prices off more than 2 per cent.

KEEPING SCORE: Germany's DAX blue-chip index fell 0.9 per cent to 10,629.92 and France's CAC 40 was off 1.0 per cent at 4,614.03. In Asia, Japan's Nikkei 225 index added 0.6 per cent to 18,873.35 while the Shanghai Composite Index was sharply lower, off 2.6 per cent at 3,534.76. Hong Kong's Hang Seng retreated 1.0 per cent to 21,919.62.

The London Stock Exchange remained closed for the holiday break, as did exchanges in Ireland and Australia.

WALL STREET: Dow Jones Industrial Average futures were down 0.5 per cent at 17,360 ahead of the open Monday. Broader Standard & Poor's 500 futures were down 0.5 per cent at 2,040.75. The S&P 500 ended last week up nearly 3 per cent and is back into positive territory for the year.

THE GLUT GOES ON: After recovering a bit last week, oil prices slid again amid reports that Iran intends to increase exports by 500,000 barrels per day once economic sanctions are removed. That would only add to the excess supply that has helped depress prices and sent shares in energy companies lower.

ENERGY: Benchmark U.S. crude shed $1.19 cents to $36.91 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, which is used to price international oils, lost 87 cents to $37.02 per barrel in London.

CURRENCY: The dollar was unchanged at 120.40 yen while the euro advanced 0.1 per cent to $1.0984.



Advertisements

Latest Economic News

  • Non-browning apple coming to U.S. next month but Canada will have to wait

    Economic CBC News
    The genetically modified non-browning apples a B.C. man has been developing for more than two decades will finally show up on some U.S. produce shelves next month. But Canada will have to wait to take its bite. Source
  • Tax scams and testing 'the Trump effect': CBC Marketplace's consumer cheat sheet

    Economic CBC News
    Miss something this week? We got you. Here's this week's Marketplace cheat sheet. Get this in your inbox every Friday. Sign up for the Marketplace newsletter. Poor puppy Liza Shepherd holds up picture of Abby, the Bernese Mountain Dog cross that cost her $6,000 in vet bills. Source
  • How to fight back against rising bank fees on chequing accounts

    Economic CBC News
    Canada's big banks continue to enjoy big profits. But that hasn't stopped them from charging customers a host of personal banking fees. In fact, fees have become an ever more important part of their revenues. Source
  • Bogus bongs or bogus lawsuits? Pipe maker sues over fakes

    Economic CTV News
    FORT LAUDERDALE, Fla. -- Don't want to bum your buzz, but that expensive bong you got cheap to smoke your pot may be bogus. High-end German glass water pipe maker Roor and its American licensee are filing lawsuits against smoke shops and mom-and-pop convenience stores in Florida, California and New York. Source
  • 'There isn't a best card out there': How to choose a credit card that works for you

    Economic CBC News
    Credit cards are sometimes lambasted as high-cost consumer debt that can quickly get borrowers into trouble. But if you pay off the balance each month, credit cards can also have significant perks. Loyalty programs like Air Miles, which has both a standalone program and partnerships with credit cards, have drawn a lot of criticism lately, but Canadians are still attached to credit cards that offer rewards. Source
  • Chevron says it has won the latest round in an Ecuadorian legal battle

    Economic CTV News
    Oil giant Chevron Corp. says it has won a round in the Canadian courts in a complex legal battle with a group of Ecuadorian villagers who are trying to collect on a massive judgement they won in Ecuador's courts. Source
  • Liberals ask President Trump to approve Keystone XL pipeline

    Economic CTV News
    Canada’s natural resources minister says that he hopes the new U.S. administration will allow the Keystone XL pipeline quashed by Barack Obama to proceed, noting that all Canadian regulatory approvals are in place. Jim Carr spoke to CTV’s Power Play from Washington, D.C. Source
  • Apple depicts Qualcomm as a shady monopolist in US$1B lawsuit

    Economic CTV News
    SAN FRANCISCO -- Apple is suing mobile chip maker Qualcomm for $1 billion in a patent fight pitting the iPhone maker against one of its major suppliers. The 100-page complaint filed Friday in a San Diego federal court depicts Qualcomm as a greedy monopolist abusing its power in a key segment of the mobile chip market to extort royalties for iPhone innovations that have nothing to do with Qualcomm's technology. Source
  • Trump's 'America first' tone worries head of Canadian oil and gas industry group

    Economic CTV News
    Trump takes charge: Sworn in as 45th president of the U.S.A. Source
  • Obama administration urges Canada to reverse Super Bowl ad decision

    Economic CTV News
    OTTAWA - In one of its final communications with Canada, the outgoing Obama administration is engaging in pigskin politics: asking the Trudeau government to overturn a regulation affecting ads during the Super Bowl. The U.S. Source