Thu | Nov 15, 2018

Global stocks, oil slide on last day of 2015

Published:Friday | January 1, 2016 | 12:00 AM

Global stocks, oil slide on last day of 2015

Global stocks were ending the year on a subdued note Thursday, while indexes in Germany, Japan and South Korea were already shut for the New Year holiday.

Britain's FTSE 100 dropped 0.5 per cent to 6,242.32, putting it down 4.9 per cent for the year. France's CAC-40 fared better in 2015, with an 8.5 per cent gain after slipping 0.9 per cent on Thursday, to 4,637.06.

Germany's main stock market, which was closed Thursday for the holiday, ended the year with a 9.6 per cent gain. Eurozone countries like France and Germany seen their stock markets boosted this year by new central bank stimulus measures.

Wall Street was expected to edge down slightly, with the futures for the Dow Jones industrial average and the Standard & Poor's 500 down 0.2 per cent.

The Shanghai Composite Index retreated 0.9 per cent to 3,539.18 points while Hong Kong's Hang Seng gained 0.15 per cent to 21,914.40. Australia's S&P/ASX 200 lost 0.5 per cent to 5,295.90 and India's Sensex gained 0.1 per cent to 25,980.85. Benchmarks in New Zealand and Thailand also advanced. Singapore declined.

"On the eve of the new year, the fact is that lingering and familiar risks are not purged at the stroke of midnight," Mizuho Bank said in a report. It cited fluctuating oil prices and uncertainty about the impact of monetary policy changes in the United States, Europe and Japan. "Instead, the risk landscape is a continuum that warrants caution."

The price of oil continued to slide, adding to the previous day's losses. Benchmark U.S. crude fell 30 cents to $36.30 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.27 on Wednesday to close at $36.60. Brent crude, used to price international oils, lost 26 cents to $36.61 in London. It slid $1.33 in the previous session to $36.46.

The dollar rose to 120.57 yen from Wednesday's 120.49, while the euro fell to $1.0930 from $1.0936.