Global markets were mixed overnight as the London market retraced while earnings optimism as well as a spate of merger activity bolstered sentiment in Europe and Wall Street. Markets also edged higher after the US Senate voted to end the shutdown of the US government. The Senate agreed 81 to 18 to end debate, a procedural move that clears the way for a temporary funding plan through February 8 - the culmination of days of deal making.
The price of oil is trading at its highest level since December 2014 and has trended higher since mid-2017. This is clearly a positive for energy producers such as Woodside Petroleum (which we discuss below) and is also a negative for sectors such as airlines (given oil/ jet-fuel is a major cost for airlines). If the relatively oil high persists it could also have an inflationary impact on the global economy....
Stock Markets, Simplified.