Opec oil output dips but market labels it a blip January 5, 2016 The global oil supply was eased slightly in December, according to a Reuters survey. The Organisation of the Petroleum Exporting Countries (Opec) supply of oil fell in December to 31.6m barrels per day, down from 31.8m in November. The dip in supply is not thought to be the beginning of a trend however, with analysts expecting [...]
State postpones fears of a sell-off in China markets January 5, 2016 Chinese authorities gave the country's stock and currency markets a boost yesterday when they resumed buying shares, despite vowing not to at the tail end of 2015. State controlled financial institutions, known as the “national team”, were widely credited with buying up shares by analysts and traders, many of which were critical of the government’s intervention [...]
Chief financial officers less concerned about Brexit uncertainty this year January 5, 2016 UK finance chiefs are more concerned about the domestic economy than they are about the uncertainty generated by a referendum on Britain's EU membership, new survey figures reveal today. The uncertainty surrounding a Brexit was cited as a risk by 41 per cent of chief financial officers (CFO), down from 50 per cent last year, according to the [...]
UK construction rebound lifts economic growth hopes January 5, 2016 The UK's construction sector gained some momentum in December, survey figures released this morning show. Markit's construction purchasing managers' index (PMI) rose to a score of 57.9 in December, up from November's seven-month low of 55.3. Scores above 50 imply the sector grew over the month, with higher scores implying faster growth. Higher levels of construction [...]
Eurozone inflation stays at 0.2 per cent in December January 5, 2016 Inflation in the Eurozone was 0.2 per cent in December, unchanged from the month before, according to official estimates released this morning. The rate of energy price declines slowed to 5.9 per cent from 7.3 per cent, the figures published by Eurostat, the statistical office of the European Union, reveal. However, this was offset by slower growth in food, alcohol [...]
CSI 300, Shenzhen Composite and Shanghai Composite: Asia shares settle after yesterday’s sell-off January 5, 2016 Shares in Asia stabilised after yesterday's market turmoil, which saw China's blue-chip CSI 300 plunge nearly seven per cent. Today, the CSI 300 edged up 0.28 per cent at 3,478.780 points. It had suffered yesterday as weak data sparked a sell-off, triggering circuit-breakers and bringing a halt to daily trading across Chinese stock markets The breakers, introduced in [...]
Brent and US crude oil prices shrug off yesterday’s turmoil January 5, 2016 Oil prices stabilised today, shrugging off yesterday's volatile trading – but fears over a supply glut kept a lid on prices. Brent crude, the global benchmark, was down 0.35 per cent at $37.09 per barrel in morning trading, while West Texas Intermediate, the US benchmark, shed 0.33 per cent at $36.64. Oil prices yo-yoed yesterday, driven by an escalating diplomatic [...]
Happy New Fear: Chinese fireworks send panic through global stock markets January 5, 2016 Hopes of a New Year rally were shattered yesterday as fears over the health of the Chinese economy wiped trillions from stock markets and sparked concern of more turmoil to come. Investor confidence was further hampered by rising tensions in the Middle East as Saudi Arabia and its allies cut ties with Iran, accusing the country of [...]
Brent and US crude oil prices rise amid escalating political tension between Saudi Arabia and Iran January 4, 2016 Oil prices dipped again after it rose as much as four per cent today, wiping out gains made earlier in the day as rising political tension between two of the biggest powers in the Middle East stoked concern about potential supply disruptions. Brent crude, the global benchmark, fell to $37.06 per barrel, having risen as high [...]
US manufacturing contracts for second consecutive month January 4, 2016 The US manufacturing sector contracted for a second consecutive month in December, according to survey figures released today. The Institute for Supply Managemtent's purchasing managers' index (PMI) dropped to a score of 48.2 per cent from 48.6 per cent the previous month. Figures below 50 imply a decline in business activity on the month. It takes [...]