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Global stocks mixed; oil jumps over supply concerns


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Global stocks mixed; oil jumps over supply concerns

➤ European equities trade lower as US markets shut.

➤ BoJ, ECB rate decisions, Netflix, IBM earnings due this week.

➤ Pound slips after Sajid Javid remarks; jobs report due tomorrow.

➤ Oil price rises amid oil supply concerns stemming from Iraq, Libya.

Global stocks were mixed at the start of the week that will see monetary policy decisions from Japan and the European Central Bank, as well as corporate earnings.

European equities traded lower, with the Stoxx Europe 600 index down 0.2% around 6:30 a.m. ET. The FTSE 100 and France's CAC 40 fell 0.4% and 0.3%, respectively, while Germany's DAX was flat.

Central banks, including the Bank of Japan and the ECB, will announce their decisions this week, with both the central banks expected to hold their benchmark rates unchanged.

U.S. markets were closed for the Martin Luther King Jr. holiday Jan. 20. Netflix Inc., International Business Machines Corp. and UBS Group AG, among others, are due to report earnings this week.

In Asia, the Shanghai SE Composite rose 0.7%, as the People's Bank of China held its reference point for new loans steady for the second straight month.

Jiangsu Sihuan Bioengineering Co. Ltd.'s and Shandong Lukang Pharmaceutical Co.Ltd.'s shares soared around 10% each, hitting their daily limit, as China reported 140 new cases of coronavirus. On the other hand, BTG Hotels (Group) Co. Ltd.'s and theme park company Songcheng Performance Development Co.Ltd.'s shares plummeted 9.1% and 8.5%, respectively.

Hong Kong's Hang Seng index declined 0.9% amid renewed unrest in the city, while Japan's Nikkei 225 added 0.2%.

In currencies, the pound slipped 0.1% versus the greenback after U.K. Chancellor Sajid Javid urged companies to adjust to a future where the country will diverge from the EU's rules, single market and customs union. The U.K. jobs report is due tomorrow.

The Japanese yen was flat, and so was the euro, as data showed that Germany's annual producer prices fell for the fourth consecutive month in December 2019.

The dollar index gained 0.1%, while the onshore Chinese yuan slipped 0.1% against the dollar.

In the debt market, the yield on 10-year German Bunds was little changed at negative 0.207%.

In commodities, Brent crude rose 0.7% to $65.31 per barrel on the ICE Futures Exchange amid oil supply concerns stemming from Iraq and Libya.

Iraq temporarily halted oil output on Jan. 19, while Libya's National Oil Corp. announced force majeure after Libyan National Army Commander Khalifa Haftar's forces halted oil shipments from certain ports, in a move that could result in a production cut by 800,000 barrels a day.

Gold was little changed.

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