Global stocks post modest gains as worries over China, falling oil prices limit rise

TOKYO - Shares in Europe made modest gains Tuesday as Asia recovered from an overnight drop in oil prices and a sell-off in Shanghai.

See Full Article

KEEPING SCORE: Germany's DAX rose 0.9 per cent to 10,746.55 while France's CAC 40 also rose 0.9 per cent to 4,658.51. Britain's FTSE 100 edged 0.4 per cent higher to 6,257.15. Wall Street looked set to reverse Monday's losses, with both Dow and S&P futures up 0.3 per cent.

THE QUOTE: "Asian markets have looked past the wobble in oil prices and Chinese data yesterday to push tentatively into the green," Angus Nicholson of IG said in a market note. "However, volumes are very low throughout the region, even lower than the pre-Christmas trade last week, so it is difficult to read too much into them."

ENERGY: Monday's news that Iran intends to increase exports by 500,000 barrels per day once economic sanctions are removed deepened concern over excess global supplies, pushing prices 3.4 per cent lower. But on Tuesday, benchmark U.S. crude rose 16 cents to $36.97 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, which is used to price international oils, also gained 16 cents, to $36.78 a barrel.

ASIA'S DAY: Japan's Nikkei 225 stock index rose 0.6 per cent to 18,982.23 and Hong Kong's Hang Seng added 0.3 per cent to 21,988.24. South Korea's Kospi was 0.1 per cent higher at 1,966.31 and the Shanghai Composite Index gained 0.9 per cent to 3,563.74. Australia's S&P/ASX 200 gained 1.2 per cent to 5,267.30. Shares in New Zealand were higher, Taiwan fell and Southeast Asian shares were mostly higher.

CURRENCIES: The dollar was slightly higher at 120.37 yen, up from 120.26 on Monday. The euro slipped to $1.0977 from $1.0985 in the previous session.


Latest Economic News

  • Experimental pot lab sprouting cannabis-infused drinks, new edibles

    Economic CTV News
    SMITHS FALLS, Ont. -- Nestled inside Canopy Growth Corp.'s sprawling marijuana facility outside Ottawa is a laboratory where technicians in white lab coats and hair nets bustle about, pipetting fluids into glassware as machinery hums and coloured, three-dimensional graphs flash on nearby screens. Source
  • Global vanilla prices squeeze margins for ice cream, cupcake makers

    Economic CTV News
    TORONTO -- Prepare to shell out a little more for the sweet treats of spring and summer as a global surge in the price of vanilla makes its impact at some small-batch ice cream shops and neighbourhood bakeries. Source
  • Companies experiment with killing the barcode on event tickets and in stores

    Economic CTV News
    TORONTO -- When fans score tickets for events at the Burton Cummings Theatre in Winnipeg in the future, they might notice the absence of a familiar feature: that ubiquitous zebra-styled inventory tracker bar that adorns almost every retail product imaginable. Source
  • Tickets without barcodes: Concert venues experiment with new systems

    Economic CBC News
    When fans score tickets for events at the Burton Cummings Theatre in Winnipeg in the future, they might notice the absence of a familiar feature: that ubiquitous zebra-styled inventory tracker bar that adorns almost every retail product imaginable. Source
  • Canadians see possible signal U.S. ready to accept NAFTA compromise

    Economic CTV News
    OTTAWA -- American trade officials are showing newfound interest in a Canadian proposal for revamping NAFTA's automotive provisions as the U.S. seeks to swiftly conclude renegotiations of the continental free trade pact. And that's being taken in some quarters as a sign that the U.S. Source
  • The dirty truth about makeup and the oil change debate: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    Miss something this week? Don't panic. CBC's Marketplace rounds up the consumer and health news you need. Want this in your inbox? Get the Marketplace newsletter every Friday. Internet prices dialing up Your internet bill could get even more pricey. Source
  • After overcharging for bread, should Loblaws demand ID for a $25 gift card?

    Economic CBC News
    Jenn Iskiw says she'll be grocery shopping elsewhere after feeling betrayed by Loblaws — twice. First, for artificially inflating the price of bread for 14 years, and second, for demanding she send ID to get a $25 gift card offered as compensation for bread price fixing. Source
  • Facebook suspends data analytics firm that worked for Trump campaign

    Economic CBC News
    The Massachusetts attorney general said on Saturday her office was launching an investigation after reports that Cambridge Analytica had harvested private information from more than 50 million Facebook users in developing techniques to support U.S. President Donald Trump's 2016 election campaign. Source
  • Trump's goal of 'energy dominance' could change the global balance of power

    Economic CBC News
    Fuelled by technological breakthroughs and cuts to taxes and regulation, the United States is on target to become the world's biggest producer of crude oil in the next five years. Let that sink in. The U.S will be bigger than Russia and Saudi Arabia. Source
  • How to avoid spending money on unnecessary oil changes

    Economic CBC News
    Oil changes are by far the most common service performed on vehicles in Canada. Customers pay quick lube facilities, private garages and dealer maintenance centres well over a billion dollars a year for the service. But a CBC investigation finds many of us may be changing our oil far more often than automakers require. Source