Global stocks mixed after decline in oil prices

LONDON — Global stocks were closing out the year on a subdued note Thursday, while indexes in Germany, Japan and South Korea were already shut for the New Year holiday.

See Full Article

KEEPING SCORE: In Europe, France's CAC-40 shed 0.2 per cent to 4,665.91 and Britain's FTSE 100 was down 0.1 per cent at 6,265.28. Germany's main stock market, which remained closed for the holiday, on Wednesday closed 1.1 per cent lower to leave it up 9.6 per cent for the year. Wall Street was expected to edge up slightly, with the futures for the Dow Jones industrial average and the Standard & Poor's 500 up 0.1 per cent.

ASIA'S DAY: The Shanghai Composite Index retreated 0.9 per cent to 3,539.18 points while Hong Kong's Hang Seng gained 0.15 per cent to 21,914.40. Australia's S&P/ASX 200 lost 0.5 per cent to 5,295.90 and India's Sensex gained 0.1 per cent to 25,980.85. Benchmarks in New Zealand and Thailand also advanced. Singapore declined.

ANALYST'S TAKE: "On the eve of the new year, the fact is that lingering and familiar risks are not purged at the stroke of midnight," Mizuho Bank said in a report. It cited fluctuating oil prices and uncertainty about the impact of monetary policy changes in the United States, Europe and Japan. "Instead, the risk landscape is a continuum that warrants caution."

ENERGY: Benchmark U.S. crude gained 16 cents to $36.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.27 on Wednesday to close at $36.60. Brent crude, used to price international oils, added 24 cents to $37.11 in London. It slid $1.33 in the previous session to $36.46.

CURRENCY: The dollar rose to 120.57 yen from Wednesday's 120.49, while the euro fell to $1.0930 from $1.0936.



Advertisements

Latest Economic News

  • EU imposes sales conditions on Gazprom in Eastern Europe

    Economic CTV News
    BRUSSELS -- The European Union is imposing a series of obligations on Russian energy giant Gazprom to improve the flow of gas at competitive prices in eastern Europe. EU Antitrust Commissioner Margrethe Vestager said Thursday that Gazprom will have to ease its hold on the market there, giving consumers "an effective tool to make sure that the price they pay is competitive. Source
  • Entrepreneurs eye big bucks by selling products exclusively on social media

    Economic CTV News
    TORONTO -- Kbre Hamilton has long worked as a model and a tavern server, but five years ago when he snagged a dresser at a garage sale and gave it a coat of Emperor's Silk red paint and some new knobs, he stumbled onto a new way to make money. Source
  • Royal Bank's Q2 earnings beat market expectations

    Economic CTV News
    TORONTO - Royal Bank's second-quarter profit surpassed market expectations with a more than nine per cent jump compared with a year ago. Canada's biggest lender by market value reported net income attributable to common shareholders of $2.98 billion or $2.06 per diluted share for the quarter ended April 30, up from $2.72 billion or $1.85 per diluted share a year ago. Source
  • Protests worldwide against U.S. idea of auto import tariffs

    Economic CTV News
    BEIJING -- China, Japan and the European Union condemned Thursday the Trump administration's decision to launch an investigation into whether tariffs are needed on imports of vehicles and automotive parts into the United States. U.S. Source
  • Ontario's NDP must face the cruel economic realities of government: Don Pittis

    Economic CBC News
    Only a few months ago, a New Democratic government in Ontario was being ruled out by everyone but NDP partisans. But a shift in the polls is showing that the people of Ontario — and the people of Canada — must face a new possibility. Source
  • Asian stocks mixed after U.S. federal reserve boosts Wall Street

    Economic CTV News
    BANGKOK - Shares were mixed in Asia on Thursday after U.S. stocks reversed early losses and finished higher as investors appraised the Federal Reserve's signal that it is not in a hurry to raise interest rates. Source
  • Federal government blocks sale of construction giant Aecon to Chinese interests

    Economic CBC News
    The federal government has blocked the sale of Canadian construction company Aecon Group Inc. to Chinese interests, the office of Innovation Minister Navdeep Bains has confirmed. The controversial deal between Aecon and China's CCCC International Holding Ltd., also known as CCCI, would have been worth $1.5 billion. Source
  • Feds block Aecon proposed takeover by Chinese group for national security reasons

    Economic CTV News
    OTTAWA - The federal government has blocked Chinese state-owned CCCC International Holding Ltd.'s proposed $1.5 billion takeover of construction firm Aecon Group Inc. for reasons of national security. More coming. Source
  • Feds block $1.5B takeover of Aecon by China-owned company over national security

    Economic CTV News
    OTTAWA -- The federal government has blocked the proposed $1.5-billion takeover of Aecon Group Inc. by a Chinese state-owned company for reasons of national security. After markets closed Wednesday, a spokesman for Economic Development Minister Navdeep Bains confirmed the government's decision to prevent CCCC International Holding Ltd. Source
  • Canada blocks Aecon takeover by Chinese state-owned firm over national security

    Economic CTV News
    OTTAWA -- The federal government has blocked the proposed $1.5-billion takeover of Aecon Group Inc. by a Chinese state-owned company for reasons of national security. After markets closed Wednesday, Economic Development Minister Navdeep Bains confirmed the government's decision to prevent CCCC International Holding Ltd. Source