Markets uncertain before Fed decision | FT Markets - YouTube: ""
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Tuesday, 15 December 2015
A Pessimist's Guide to the World in 2016
A Pessimist's Guide to the World in 2016:
"Oil prices soar after Islamic State destroys facilities across the Middle East. Angela Merkel is forced to resign, throwing the European Union into disarray. The dollar slumps as Russian and Iranian hackers team up to launch cyber-attacks on U.S banks. Bloomberg News asked dozens of former and current diplomats, geopolitical strategists, security consultants, and economists to identify the possible worst-case scenarios, based on current global conflicts, that concern them most heading into 2016."
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"Oil prices soar after Islamic State destroys facilities across the Middle East. Angela Merkel is forced to resign, throwing the European Union into disarray. The dollar slumps as Russian and Iranian hackers team up to launch cyber-attacks on U.S banks. Bloomberg News asked dozens of former and current diplomats, geopolitical strategists, security consultants, and economists to identify the possible worst-case scenarios, based on current global conflicts, that concern them most heading into 2016."
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MIDEAST STOCKS-Saudi leads gains as bargain hunters lift some mkts | Reuters
MIDEAST STOCKS-Saudi leads gains as bargain hunters lift some mkts | Reuters:
"Most Middle East bourses recovered some of this week's losses on Tuesday, led by Saudi Arabia as bargain hunters picked up blue-chips and oil prices steadied.
Brent crude stabilised, trading at around $38 as of 1322 GMT.
Saudi's index rose 1.3 percent, reversing Monday's declines that had dragged it to a three-year low."
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"Most Middle East bourses recovered some of this week's losses on Tuesday, led by Saudi Arabia as bargain hunters picked up blue-chips and oil prices steadied.
Brent crude stabilised, trading at around $38 as of 1322 GMT.
Saudi's index rose 1.3 percent, reversing Monday's declines that had dragged it to a three-year low."
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Moody's slashes oil forecast for 2016 by $10 a barrel | Business | The Guardian
Moody's slashes oil forecast for 2016 by $10 a barrel | Business | The Guardian:
"Moody’s has cut its oil price forecast for next year by $10 a barrel due to continued high levels of supply that may be heightened by the lifting of sanctions against Iran.
The credit rating agency slashed its price assumption for Brent crude, the international benchmark, to $43 a barrel from $53. For West Texas intermediate crude, the North American benchmark, it cut the forecast to $40 a barrel from $48.
Global oil demand will rise by about 1.3m barrels a day next year, higher than the previous estimate by Moody’s, as consumption increases in the US, China and Russia, the agency forecast."
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"Moody’s has cut its oil price forecast for next year by $10 a barrel due to continued high levels of supply that may be heightened by the lifting of sanctions against Iran.
The credit rating agency slashed its price assumption for Brent crude, the international benchmark, to $43 a barrel from $53. For West Texas intermediate crude, the North American benchmark, it cut the forecast to $40 a barrel from $48.
Global oil demand will rise by about 1.3m barrels a day next year, higher than the previous estimate by Moody’s, as consumption increases in the US, China and Russia, the agency forecast."
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MIDEAST STOCKS-Saudi mkt gains as oil stabilises; foreign traders exiting Egypt | Reuters
MIDEAST STOCKS-Saudi mkt gains as oil stabilises; foreign traders exiting Egypt | Reuters:
"Saudi Arabia's bourse strengthened on Tuesday, with all sectors turning higher, as oil prices stabilised, while Egypt slid as foreign traders exited positions.
Saudi's bourse rose 1.5 percent to 6,751 points, recouping Monday's losses which pushed the index to a three-year low after Brent oil dipped below $37.
Crude prices stabilised on Tuesday, trading above $38 at 0914 GMT."
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"Saudi Arabia's bourse strengthened on Tuesday, with all sectors turning higher, as oil prices stabilised, while Egypt slid as foreign traders exited positions.
Saudi's bourse rose 1.5 percent to 6,751 points, recouping Monday's losses which pushed the index to a three-year low after Brent oil dipped below $37.
Crude prices stabilised on Tuesday, trading above $38 at 0914 GMT."
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Emergency Opec meeting aired as Russia braces for sub-$30 oil - Telegraph
Emergency Opec meeting aired as Russia braces for sub-$30 oil - Telegraph:
"Opec will be forced to call an emergency meeting within weeks to stabilize the market if crude prices fail to rebound after crashing to seven-year lows of $35 a barrel, two of the oil cartel's member states have warned.
Emmanuel Kachikwu, Nigeria’s oil minister and Opec president until last week, said the group is still hoping that the market will recover by February as low prices squeeze out excess production from US shale, Russia and the North Sea, but nerves are beginning to fray.
“If it [the oil price] doesn’t [recover], then obviously we’re in for a very urgent meeting,” he said. Indonesia has issued similar warnings over recent days, suggesting that the Opec majority may try to force a meeting if Saudi Arabia’s strategy of flooding the market pushes everybody into deeper crisis."
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"Opec will be forced to call an emergency meeting within weeks to stabilize the market if crude prices fail to rebound after crashing to seven-year lows of $35 a barrel, two of the oil cartel's member states have warned.
Emmanuel Kachikwu, Nigeria’s oil minister and Opec president until last week, said the group is still hoping that the market will recover by February as low prices squeeze out excess production from US shale, Russia and the North Sea, but nerves are beginning to fray.
“If it [the oil price] doesn’t [recover], then obviously we’re in for a very urgent meeting,” he said. Indonesia has issued similar warnings over recent days, suggesting that the Opec majority may try to force a meeting if Saudi Arabia’s strategy of flooding the market pushes everybody into deeper crisis."
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Dubai Developers `Strangle' Supply to Stem Price Drop, CBRE Says - Bloomberg Business
Dubai Developers `Strangle' Supply to Stem Price Drop, CBRE Says - Bloomberg Business:
"Dubai developers halted delivery of about a quarter of the properties set for completion this year, bolstering apartment rents but failing to stop a 16 percent price decline, according to CBRE Group Inc.
About 6,000 nearly-completed homes sit empty in newer developments such as Dubailand, Jumeirah Village Circle and Dubai Sports City as some developers withhold keys from buyers, according to CBRE, which visits developments to assess the extent of construction on various projects.
Single-family home rents declined 4 percent compared with a 14 percent drop in values, Matthew Green, head of U.A.E. research at CBRE, said at a conference Monday. Apartment rents were unchanged."
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"Dubai developers halted delivery of about a quarter of the properties set for completion this year, bolstering apartment rents but failing to stop a 16 percent price decline, according to CBRE Group Inc.
About 6,000 nearly-completed homes sit empty in newer developments such as Dubailand, Jumeirah Village Circle and Dubai Sports City as some developers withhold keys from buyers, according to CBRE, which visits developments to assess the extent of construction on various projects.
Single-family home rents declined 4 percent compared with a 14 percent drop in values, Matthew Green, head of U.A.E. research at CBRE, said at a conference Monday. Apartment rents were unchanged."
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MIDEAST STOCKS-Dubai and Qatar ease away from multi-year lows; Abu Dhabi wanes | Reuters
MIDEAST STOCKS-Dubai and Qatar ease away from multi-year lows; Abu Dhabi wanes | Reuters:
"Heavyweight stocks helped Dubai and Qatar's markets rise for a second session on Tuesday as the bourses pulled away from the multi-year lows of earlier this week, although Abu Dhabi's index gave back initial gains.
Dubai's bourse was 0.1 percent higher as of 0728 GMT. It had gained 1.2 percent in early trade before some traders booked quick profits, indicating little confidence in a more sustained rebound from Sunday's two-year low.
Emaar Properties climbed 0.2 percent and accounted for roughly a third of total market turnover."
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"Heavyweight stocks helped Dubai and Qatar's markets rise for a second session on Tuesday as the bourses pulled away from the multi-year lows of earlier this week, although Abu Dhabi's index gave back initial gains.
Dubai's bourse was 0.1 percent higher as of 0728 GMT. It had gained 1.2 percent in early trade before some traders booked quick profits, indicating little confidence in a more sustained rebound from Sunday's two-year low.
Emaar Properties climbed 0.2 percent and accounted for roughly a third of total market turnover."
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