Breaking News

Commodities recover handsomely, nudging equities higher

News Date: 26/1/2016 10:19:48
Update Date: 26/1/2016 10:29:26
Oil prices erased their earlier Asian-trade losses and muscled higher above $30 on hopes of better cooperation between Russia and Saudi Arabia to lower production levels in order to ramp up prices. The two energy superpowers are competing against each other in Syria which hampered communications between the two before, but recent statements suggest a change could happen.

Brent crude futures rose 1.80%, or 55 cents to $31.93 a barrel, after touching a session-low at $30.13, while U.S. crude futures added 43 cents, or 1.40% to trade at $30.77 a barrel, away from a session-low at $29.26.

Other commodities were in the black as well, with gold futures adding $7.30, or 0.66% to $1,112 an ounce. Silver rose 7 cents, or half a percent to $14.35 an ounce, while copper futures climbed a solid 1.47% to $2.029 a pound.

European shares reversed higher as energy shares recouped their losses, with the pan-European index FTSEurofirst 300 gaining 0.23% to 1,326. Germany's DAC advanced 34 points, or 0.35% to 9,770. France's CAC 40 index rose to 4,359.

Wall Street opened sharply higher, with Dow Jones adding 171 points, or 1.10% to 16,057. S&P 500 powered up 10 points, or 0.60% to 1,887. NASDAQ Composite underperformed however, burdened by tech companies, with the index recording a small gain of 0.13% to trade at 4,525.

Earlier in the day, China's shares plunged more than six percent on worries over the slowing economy and the government's sloppy handling of it. China has become a big source of instability as of late with their extremely volatile moves.

Latest news

Futures contracts for gold declined with European trading after it was high in the Asian session : with the beginning of today’s hours, futures contracts rose by 0.66%, to be traded at a price
09-2020 21 09:52:41

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

Oil prices rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

More News