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

  • Notley aims to sell public on pipeline in B.C. in wake of protests

    Economic CTV News
    VANCOUVER - Some observers say Alberta's premier will have a difficult job trying to convince British Columbians to support a controversial pipeline project between the provinces. Rachel Notley is in B.C. for two days speaking with various media outlets about the Trans Mountain pipeline expansion project, which received federal approval last week. Source
  • Oil industry says carbon pricing coming, pump revenues back into cleaner tech

    Economic CTV News
    OTTAWA -- Canada's petroleum industry lobby group told the federal government this summer that carbon tax revenues from oil and gas should be pumped back into the industry in order to "not only preserve, but enhance" the sector. Source
  • Wages, full-time work sliding for young Canadians, StatsCan says

    Economic CBC News
    Unemployment rates among young Canadians have held relatively steady when compared with the mid-1970s, but the proportion of full-time or permanent jobs has changed sharply over that time, says Statistics Canada. In a study released Monday that looks at changes in the youth labour market from 1976 to 2015, Statistics Canada said the unemployment rate for the 15 to 24 age group averaged 13.2 per cent in 2015, slightly higher than the rate of 12.4 per cent seen in 1976. Source
  • Federal, Ontario governments talking 'investments' with Canada's big automakers

    Economic CTV News
    OTTAWA - The federal and Ontario governments are actively discussing major investments in the big automakers. Following the recent conclusion of labour negotiations, the auto companies are now in talks with the governments about investment opportunities in a sector that is a critical component of the Ontario and Canadian economies. Source
  • Postal workers ratify agreement reached last summer with Canada Post

    Economic CTV News
    MONTREAL -- A union spokeswoman says members of the Canadian Union of Postal Workers have ratified the tentative agreement reached last summer with Canada Post. Lise-Lyne Gelineau, president of the union's Montreal section, tells The Canadian Press rural and suburban mail carriers voted 55 per cent in favour of the new contract, while urban postal workers voted 63 per cent in favour. Source
  • Global trade more important than ever, Chrystia Freeland tells Toronto audience

    Economic CBC News
    Ottawa is more in favour than ever of global trade and signing free trade amendments, despite recent moves toward protectionism in other countries, International Trade Minister Chrystia Freeland told a Toronto business audience on Monday. Speaking to the Toronto Board of Trade at a luncheon, Freeland said is "so proud" to be representing Canada on the world stage, because it is "the country that is most clearly bucking the trend" toward protectionism and closed borders. Source
  • Trump not saying what he'll do about Dakota Access pipeline

    Economic CTV News
    CANNON BALL, N.D. -- Protesters who celebrated a major victory in their push to reroute the Dakota Access oil pipeline vowed to remain camped on federal land as they wait to find out whether President-elect Donald Trump might seek to overturn a decision that delayed the $3.8 billion project. Source
  • Electric vehicle charging stations coming to 25 Ontario Canadian Tire locations

    Economic CTV News
    ETOBICOKE, Ont. - Electric vehicle charging stations are being added to 25 Canadian Tire Gas+ locations across Ontario. AddEnergie Technologies says the stations, which start rolling out early next year, join the 2,500 stations along its FLO Canadian charging network. Source
  • International trade minister's announcement and news conference LIVE

    Economic CBC News
    Trevor Noah on race, comedy and politics 12:14 Daily Show host talks to CBC's Wendy Mesley about U.S. race relations, his childhood under apartheid and his controversial interview with pundit Tomi Lahren Source
  • StatCan study highlights drop in wage, job quality for young workers

    Economic CTV News
    OTTAWA - A new study from Statistics Canada says young people have seen their job quality decline over the last four decades, even as the unemployment rate has remained virtually unchanged. In a report released today, the national statistics office says fewer young Canadians, who are not full-time students, are working in full-time jobs today than in 1976, a result driven mainly by the rise of part-time work rather than increases in unemployment rates or decreases in labour force…