BoJ Maintains Current Stimulus Levels, BHP Billiton Cuts Spending to Maintain Dividend Level
January 21, 2015 7:00 am
Chinese indices hit a six-week high and the Euro stayed under pressure on Wednesday as investors counted on the European Central Bank to unveil a stimulus drive. Japan’s Nikkei bucked the trend by slipping 0.5% and the Yen gained 0.9% to 117.76 to the Dollar after the BoJ kept its current economic stimulus level unchanged.
U.S. stocks closed little changed on Tuesday after the International Monetary Fund reduced its growth forecasts for 2015 and 2016, increasing speculation central banks would take more aggressive policy moves to spark economic improvement. The Dow closed fairly flat, three points up at 17,515. The S&P 500 gained 3 points to close at 2,022.
The Dollar was down 0.9% at 117.76 Yen, moving back towards a one-month trough of 115.85 set recently. It had risen as far as 118.87 overnight after investors sold the Japanese currency as a precautionary move in case the BoJ eased stimulus. The Euro fell 0.7% to 136.17 Yen and back towards a three-month low of 134.70 touched on Friday. That kept investors away from the Euro, which at $1.1570 was not far from an 11-year trough of $1.14595 set last week. Sterling was little changed at $1.5163 after gaining about 0.3% overnight to rise further from a six-month trough of $1.5034 struck earlier in the month.
Oil fell as much as 5% on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action. Brent was trading at $48.32 a barrel at 07:08 GMT, up 33 cents, while U.S. crude was 44 cents stronger at $46.91 a barrel.
Within the equity space, BHP Billiton – the world’s largest mining company – said on Wednesday that it would cut its spending on shale drilling over the next six months as it looks to meet its promise not to reduce dividends in the face of a collapse in iron ore, copper and oil prices. The stock was slightly down by 0.3% at 1386p per share in early trade.
Chinese indices hit a six-week high and the Euro stayed under pressure on Wednesday as investors counted on the European Central Bank to unveil a stimulus drive. Japan’s Nikkei bucked the trend by slipping 0.5% and the Yen gained 0.9% to 117.76 to the Dollar after the BoJ kept its current economic stimulus level unchanged.
U.S. stocks closed little changed on Tuesday after the International Monetary Fund reduced its growth forecasts for 2015 and 2016, increasing speculation central banks would take more aggressive policy moves to spark economic improvement. The Dow closed fairly flat, three points up at 17,515. The S&P 500 gained 3 points to close at 2,022.
The Dollar was down 0.9% at 117.76 Yen, moving back towards a one-month trough of 115.85 set recently. It had risen as far as 118.87 overnight after investors sold the Japanese currency as a precautionary move in case the BoJ eased stimulus. The Euro fell 0.7% to 136.17 Yen and back towards a three-month low of 134.70 touched on Friday. That kept investors away from the Euro, which at $1.1570 was not far from an 11-year trough of $1.14595 set last week. Sterling was little changed at $1.5163 after gaining about 0.3% overnight to rise further from a six-month trough of $1.5034 struck earlier in the month.
Oil fell as much as 5% on Tuesday after the International Monetary Fund cut its 2015 global economic forecast and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action. Brent was trading at $48.32 a barrel at 07:08 GMT, up 33 cents, while U.S. crude was 44 cents stronger at $46.91 a barrel.
Within the equity space, BHP Billiton – the world’s largest mining company – said on Wednesday that it would cut its spending on shale drilling over the next six months as it looks to meet its promise not to reduce dividends in the face of a collapse in iron ore, copper and oil prices. The stock was slightly down by 0.3% at 1386p per share in early trade.
Related Posts: