Europe

Submitted by Michael Shedlock via MishTalk.com,

The nannycrats in Brussels face yet another attack on the anti-immigration front: Geert Wilders’ Far-Right Party Tops Polls in the Netherlands.

Geert Wilders, chairman of the Party for Freedom (PVV), has been celebrating on Twitter today. The reason? His party is now the biggest party in the Dutch polls. With elections coming up in March 2017, the populist politician seems to be on track to become the Netherlands’ next prime minister.

 

Submitted by Michael Shedlock via MishTalk.com,

European Commission President, Jean-Claude Juncker issued a warning to Austrian presidential candidate Norbert Hofer, regarding referendums.

Hofer, an anti-immigration, candidate is in a tight race for the election coming up on December 4.

If he wins, Hofer said he would hold in-out referendums if Brussels seeks to expand it power.

• Oil soars on OPEC hopes, dollar renews its surge (Reuters)
• Oil Rallies on OPEC Optimism, Spurring Gains in Energy Producers (BBG)
• Saudis say to take 'big hit' on oil output for OPEC deal, Iran can freeze (Reuters)
• Leaner and meaner: U.S. shale greater threat to OPEC after oil price war (Reuters)
• an the U.S. Become an Energy Superpower in 2017? (BBG)
• RBS Fails Toughest-Ever BOE Stress Test, Boosts Capital Plan (RBS)
• Romney heaps praise on Trump after dinner (Reuters)

Ulster Bank Parent RBS Fails Bank of England Stress Test

"Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year's Bank of England stress test, which warned of a "challenging" outlook for Britain's financial system.

European, Asian stocks rise as do S&P futures as OPEC ministers gathering in Vienna appeared to be set to announce a deal to cut oil production and prop up global prices. Oil has surged over 7% as a result, also pushing US TSY yields and the dollar higher.

With all eyes on Vienna, where optimism OPEC ministers will salvage a deal to cut production, oil has soared by over 6% reverberating through the financial markets, spurring oil’s biggest gain in two weeks and sending stocks of energy producers and currencies of commodity-exporting nations higher.