has agreed a merger<\/a> with Teck Resources, in what would be the biggest mining sector M&A deal in over a decade.<\/p>\nUnder the proposed deal, which will require regulatory approval in Canada and South Africa, Anglo American shareholders would own 62.4 per cent of the newly combined company, Anglo Teck, while shareholders in Teck will hold 37.6 per cent. Anglo Teck will be headquartered in Canada but have a primary listing in London, the companies said.<\/p>\n
On Wall Street, markets are watching earnings from Oracle Corp., Synopsys Inc. and GameStop Corp.<\/p>\n
French President Emmanuel Macron is seeking his fifth prime minister in less than two years after opposition parties united to kick out centre-right Prime Minister Francois Bayrou over his unpopular plans for budget tightening.<\/p>\n
\u201cIf we were to avoid elections, clearly that would be more of a market positive than the alternative, though it doesn\u2019t do much to alter the rather perilous fiscal trajectory that France remains on,\u201d said Michael Brown, senior research strategist at Pepperstone.<\/p>\n
\u201cIt does remove a little bit of risk in the short-term, which is why markets are by and large shrugging all of that off this morning.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was flat in morning trading. Britain\u2019s FTSE 100 gained 0.11 per cent, Germany\u2019s DAX slipped 0.4 per cent and France\u2019s CAC 40 advanced 0.16 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 0.42 per cent lower, while Hong Kong\u2019s Hang Seng rose 1.19 per cent. <\/p>\n
Commodities<\/p>\n
Oil extended gains, supported by OPEC+\u2019s latest oil output hike being smaller than anticipated, expectations that China will continue stockpiling oil and concerns over potential new sanctions on Russia.<\/p>\n
Brent crude rose 1.1 per cent to US$66.75 a barrel, while West Texas Intermediate (WTI) crude climbed 0.9 per cent to US$62.84.<\/p>\n
\u201cPrices are holding up amid speculation that production will not rise by the amount the eight members [of OPEC+] have allowed themselves, and not least the fact China according to data has been buying around 0.5 million barrels per day towards stockpiling,\u201d said Ole Hansen of Saxo Bank<\/p>\n
In other commodities, spot gold was up 0.4 per cent at US$3,647.98 an ounce after hitting a record high of US$3,659.10 earlier in the session. U.S. gold futures for December delivery rose 0.3 per cent to US$3,688.10.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar was little changed against its U.S. counterpart.<\/p>\n
The day range on the loonie was 72.39 US cents to 72.50 US cents in early trading. The Canadian dollar was down about 0.2 per cent against the greenback over the past month. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, slid 0.09 per cent to 97.37. <\/p>\n
The euro declined 0.05 per cent to US$1.1759. The British pound gained 0.17 per cent to US$1.3568. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 4.073 per cent.<\/p>\n
Economic news<\/p>\n
China foreign reserves<\/p>\n
Japan machine tool orders<\/p>\n
(6 a.m. ET) U.S. NFIB Small Business Economic Trends Survey for August.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets were mixed as investors weighed expectations of a U.S. rate cut as early as next…\n","protected":false},"author":2,"featured_media":4677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[1577,114,5840,3151,5837,5838,1247,85,46,5841,190,2378,3507,5839,5836,2796,5835],"class_list":{"0":"post-4676","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bonds","9":"tag-business","10":"tag-canadian-dollar","11":"tag-dow-jones","12":"tag-equities","13":"tag-futures","14":"tag-gold","15":"tag-il","16":"tag-israel","17":"tag-loonie","18":"tag-markets","19":"tag-nasdaq","20":"tag-newnewsletter","21":"tag-oil","22":"tag-sd","23":"tag-silver","24":"tag-tsx"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/4676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=4676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/4676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/4677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=4676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=4676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=4676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}