Australian shares are poised – for the moment – to open slightly higher, mirroring US stocks forward of the closing bell in New York. A cautious outlook for the property market has caused the Australian sharemarket to slip, with major banking shares taking a tumble. The Australian share market has tumbled as international coronavirus fears dent confidence and gasoline an increase in economic and political uncertainty. We suspect the market reaction final week began to reflect, in some half, an expectation of fiscal stimulus coming sooner or later, regardless of the election.
Oil demand in China recovered to nearly the year-ago levels in April itself. Similarly, the demand in India recovered in May, although it is still down year-over-yr. Looking at the global developments in easing of lock-down measures, the International Energy Agency expects a lift in oil demand within the second-half of the year. Due to usually constructive feelings …