Overseas Trading: Traders Eye OPEC, Central Bank Moves

Brent crude futures are bouncing after the monthly oil market report from OPEC

by Elizabeth Harrow

Published on Dec 10, 2015 at 8:29 AM

It was another down day for Asian stocks, with traders on edge ahead of the monthly oil report from the Organization of the Petroleum Exporting Countries (OPEC) and next week's U.S. Fed meeting. Stocks in Shanghai and Tokyo slipped, even as the yuan and yen backpedaled, though South Korea's Kospi managed to tack on 0.2% after the Bank of Korea stood pat on interest rates. By the close, Japan's Nikkei gave up 1.3%, while China's Shanghai Composite and Hong Kong's Hang Seng each lost 0.5%.

European markets are mixed at midday. January-dated Brent crude futures have gained nearly 1% in the wake of the OPEC report -- which showed higher production from Iraq last month, though the cartel also slashed its 2016 forecast for non-OPEC output by 250,000 barrels per day. Meanwhile, the Bank of England opted to keep its benchmark rate unchanged at 0.5%, sending the pound lower. At last check, the German DAX has gained 0.2%, the French CAC 40 is off 0.1%, and London's FTSE 100 is 0.4% lower.


Overseas markets 1210


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Patent Lawsuit Loss Sends AMRN Stock Spiraling
Amarin just lost a major U.S. patent lawsuit for its heart drug Vascepa
RH Stock Sinks Despite Earnings Beat
J.P. Morgan Securities and Cowen and Company cut their price targets
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.