Weak Chinese data renews hopes for more global stimulus

Weak Chinese data renews hopes for more global stimulus

Editor's note: US exchanges, including the CME Group, were closed for MLK Day. Oil prices reflect Monday’s implied prices, based on electronic trading. Discounts on Canadian oil represent Friday closing price. No data provided for NYSE listings.

 

Today's equity market action:

  • US markets and commodity exchanges were closed for MLK Day, making for very light trading volumes and little movement on the TSX. Markets were also quiet in Europe overnight.
  • Chinese indices rose slightly on expectations of more government intervention in light of weak economic growth figures released over the weekend. Full year GDP growth slowed to 6.6% in 2018, down from 6.8% in 2017, the slowest expansion rate in almost three decades. The IMF also downgraded its 2019 global growth forecast to 3.5%.
  • The TSX energy sector was roughly unchanged, as losses among energy service providers and larger cap producers offset gains in the other subsectors.

Today's notable energy news:

  • The National Energy Board has approved TransCanada to begin winter clearing work on the North Spread of its Keystone XL pipeline, which runs from Hardisty to Consort, AB. South of the border, the projects still awaits the results of yet another environmental review from the US State Department, and the results of another court challenge in the state of Nebraska.
  • Enbridge's Texas Eastern natural gas pipeline ruptured and exploded in Noble County, Ohio, on Monday. The blast damaged two homes and injured two people. The company has since shut in and isolated the damaged section of pipe. Texas Eastern transports gas from the US Gulf Coast to markets in the mid-Atlantic and Northeast. The line has been in service since the early 1950s.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$62.78▲0.150.47
 
86.29
WTI$53.90▲0.242.53
 
76.41
CDN LT$48.25▲0.220.83
 
69.32
C5+$50.15▲0.237.04
 
71.40
WCS$42.70▲0.212.59
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ JAN 21   █ JAN 14   █ JAN 7   █ DEC 31   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES & YIELDS
    TSX SECTORS
52-WK
ENERGY SECTORS

TSX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • Paramount Res (POU +3.5%)
  • Nuvista Energy (NVA +2.2%)
  • Advantage O&G (AAV +2.2%)
  • Freehold Royalties (FRU +2%)
  • Suncor Energy (SU +1.9%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Crescent Point (CPG -4.9%)
  • Baytex Energy (BTE -3.1%)
  • Enerplus (ERF -2.6%)
  • CES Energy (CEU -2%)
  • Parex Resources (PXT -1.8%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H CHART
    INTEGRATED
    Suncor EnergySU43.28▲1.935.53
     
    55.47D   W
    Imperial OilIMO36.71▼-1.333.43
     
    44.91D   W
    Husky EnergyHSE16.700.013.33
     
    22.99D   W
    MIDSTREAM
    EnbridgeENB48.45▲1.137.36
     
    49.46D   W
    TransCanadaTRP55.30▲0.047.90
     
    60.22D   W
    Pembina PipelinePPL45.20▼-0.337.60
     
    47.84D   W
    Inter PipelineIPL21.40▼-0.818.60
     
    25.88D   W
    Keyera KEY28.38▲0.624.05
     
    38.91D   W
    Gibson EnergyGEI20.01▲0.115.68
     
    23.32D   W
    LARGE CAP E&P
    Cdn Natural ResCNQ36.48▼-0.130.11
     
    49.08D   W
    Cenovus EnergyCVE10.62▼-1.68.74
     
    14.84D   W
    EncanaECA9.31▼-0.36.90
     
    18.54D   W
    TourmalineTOU19.22▲0.215.84
     
    26.19D   W
    Vermilion EnergyVET33.03▲1.126.67
     
    50.46D   W
    SERVICES
    Pason SystemsPSI21.07▼-0.516.05
     
    24.57D   W
    EnerflexEFX17.34▼-0.313.55
     
    18.72D   W
    Mullen Group MTL12.64▼-1.411.39
     
    16.93D   W
    ShawcorSCL18.57▼-1.815.11
     
    29.50D   W
    Secure EnergySES8.10▲0.56.25
     
    9.82D   W
    REFINING & MARKETING
    Parkland FuelPKI37.26▲0.627.36
     
    47.45D   W
    ANALYST RATINGS

    UPGRADES

    • None

    DOWNGRADES

    • None


    UPDATED: DAILY (END-OF-DAY)

    SOURCES:
    • OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
    • EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
    • CHARTPACKS COURTESY STOCKCHARTS.COM (DIVIDEND ADJUSTED)

    NOTES:
    • OIL PRICES, FUTURES AND DIFFERENTIALS IN USD/BBL
    • C5+ = EDMONTON CONDENSATE
    • FUTURES CURVES SHOW PRICES FOR NEAR-MONTH CONTRACT (C1) AND NEXT 5-MONTHS (C2-C6)
    • TSX SHARE PRICES IN CAD; S&P 500 PRICES IN USD
    • ADR: AMERICAN DEPOSITORY RECEIPTS LISTED ON NYSE IN USD
    • SHARE PRICE CHANGES (INCL. NEW HIGHS & LOWS) EXCLUDE DIVIDENDS

    RANK:
    • BASED ON STOCKCHARTS TECHNICAL RANK (SCTR)
    • REFLECTS RELATIVE STRENGTH AMONG OTHER ENERGY STOCKS (PERCENTILE RANKING)
    • RISING RANK (↑) REFLECTS INCREASING RELATIVE STRENGTH
    • FALLING RANK (↓) REFLECTS DECREASING RELATIVE STRENGTH.
    Energy traders hit the sell button on warnings of slowing global growth

    Energy traders hit the sell button on warnings of slowing global growth

    Oil prices end Friday on a high note as China offers to buy billions in US exports

    Oil prices end Friday on a high note as China offers to buy billions in US exports

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