World stocks uneven ahead of European Central Bank meeting

HONG KONG - World stocks markets traded unevenly Wednesday on investor uncertainty over whether European Central Bank policymakers would follow through on promises to help revive flagging growth at a policy meeting this week.

See Full Article

KEEPING SCORE: European stocks were moderately higher in early trading, with France's CAC 40 rising 0.4 per cent to 4,423.46 and Germany's DAX adding 0.4 per cent to 9,727.59. Britain's FTSE 100 edged up 0.1 per cent to 6,130.56. U.S. stocks were poised to open higher, with Dow futures adding 0.3 per cent to 17,028.00 and broader S&P 500 futures up 1,986.40.

ECB IN FOCUS: Investors are focused on the European Central Bank's policy meeting on Thursday. Many analysts expect the bank to open the stimulus taps further based on hints from ECB chief Mario Draghi and economic data that showed inflation across the 19-country eurozone has slipped under zero. The ECB could send deposit rates further into negative territory or step up a bond buying program. The most likely scenario is a cut to deposit rates, which could give banks an incentive to lend more.

QUOTEWORTHY: "The market has already priced in this expectation (of further ECB stimulus). However if this doesn't happen tomorrow then we will see more volatility following the disappointment and the euro will also feel under pressure," said Margaret Yang, an analyst at CMC Markets in Singapore. "Some traders, they may be more cautious and stay away from the markets right now and wait for after the ECB's decision to get into the markets."

ASIA'S DAY: Japan's benchmark Nikkei 225 index lost 0.8 per cent to close at 16,642.20 while South Korea's Kospi rose 0.3 per cent to end at 1,952.95 after recovering early losses. Hong Kong's Hang Seng dipped 0.1 per cent to 19,996.26 and the Shanghai Composite Index in mainland China retreated 1.3 per cent to 2,862.56. Australia's S&P/ASX 200 gained 1 per cent to 5,157.20, while markets in Southeast Asia were mixed.

ENERGY: Benchmark U.S. crude rose 41 cents to $36.91 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.40 to settle at $36.50 a barrel on Tuesday. Brent crude, which is used to price international oils, added 61 cents to $40.27 a barrel in London.

CURRENCIES: The dollar slipped to 112.51 yen from 112.58 yen. The euro weakened to $1.0973 from $1.0998.



Advertisements

Latest Economic News

  • Last BlackBerry-designed phone with physical keyboard to hit stores in April

    Economic CTV News
    TORONTO -- Fans of BlackBerry's classic physical keyboard will have reason to celebrate when the last product designed in part by the former smartphone leader becomes available in April. The Waterloo, Ont.-based firm played a role in developing the KEYone, named for the return of the QWERTY keyboard that other smartphone designers have mostly long retired. Source
  • Final cleanup begins at Dakota Access pipeline protest camp

    Economic CTV News
    BISMARCK, N.D. -- The U.S. Army Corps of Engineers has moved into the evacuated Dakota Access pipeline protest camp to finish the cleanup started weeks ago by the Standing Rock Sioux Tribe. A Florida-based company has been hired to provide trash removal and environmental cleanup in the main Oceti Sakowin camp on the north side of the Cannonball River and the smaller Rosebud camp on the south side. Source
  • Appealing to millennials, Las Vegas gets e-sports arena

    Economic CTV News
    LAS VEGAS -- The arena has all the features that a professional sports venue needs: stands, warm-up areas for teams, massive screens for spectators and a broadcast platform for commentators. But what distinguishes this new Las Vegas arena is its dozens of video game consoles. Source
  • Warren Buffett says don't waste money on investment fees

    Economic CTV News
    OMAHA, Neb. -- Billionaire Warren Buffett wants investors to be wary of the high fees Wall Street routinely charges because of the damage they do to investment returns, and he emphasized his confident outlook in the U.S. Source
  • 'We always find a way': N.L.'s oil-dependent economy is hurting, but there is hope on the horizon

    Economic CBC News
    Dwight Ball, the affable pharmacist who has been Newfoundland and Labrador's premier for the last 15 months, said something remarkable Wednesday while swinging an axe through several hundred government jobs. "We're human, too. This impacts us," said Ball, who clearly has shown no relish for the more brutal parts of dealing with an oil-dependent economy during a collapse in petroleum prices. Source
  • Deciphering Trump's curious comments on Keystone XL pipeline

    Economic CBC News
    In his nearly hour-long speech at the Conservative Political Action Conference on Friday morning, U.S. President Trump talked about a lot of things — the media, Obamacare, trade and crime. But he also ventured into pipelines. Source
  • Ontario police looking for 'large quantity' of stolen cheese

    Economic CTV News
    SOUTH WEST OXFORD TOWNSHIP, Ont. - Police in southwestern Ontario are looking for thieves who made off with a lot of cheese. Ontario Provincial Police say the Village Cheese Mill in South West Oxford Township, east of London, Ont. Source
  • Stock prices slide lower despite large profits at big banks

    Economic CBC News
    Canada's benchmark stock index is on track for its worst day of the year as oil prices are lower and financial firms are selling off despite record earnings at some of Canada's biggest banks. The S&P/TSX composite index was off by 260 points to 15,520 in the afternoon. Source
  • TSX tumbles 247 points despite big profits at big banks

    Economic CBC News
    Canada's benchmark stock index is on track for its worst day of the year as oil prices are lower and financial firms are selling off despite record earnings at some of Canada's biggest banks. The S&P/TSX composite index was off by 260 points to 15,520 in the afternoon. Source
  • 'Baycott': Why 'Peeved Beavers' are upset by Ivanka Trump's brand at the Bay

    Economic CTV News
    Armed with distinctive blonde wigs, pursed lips and red power ties, a group of Ontario women are planning to dress up as U.S. President Donald Trump to protest the Hudson’s Bay Co. for carrying Ivanka Trump’s fashion line during two demonstrations in the Toronto area planned for Saturday. Source