Breaking News

European shares hit a two-week high as oil muscles up

News Date: 18/2/2016 09:48:30
European shares registered some gains on Thursday, buoyed by shining oil prices after Iran welcomed a deal in Doha to cap production at the January levels. Doubts remain over the future of this deal however, and some don't believe that Iran would just abandon its plan for production increases after the lifting on international sanctions, but oil traders are taking their time to celebrate a little nonetheless.

Brent crude futures jumped more than 80 cents, or 2.43% to trade above the $35 level at $35.30 a barrel, while U.S. West Texas Intermediary (WTI) crude futures advanced 82 cents, or 2.61% to hover around $31.47 a barrel.

European shares marched on, with the pan-European FTSEurofirst index climbing to a two-week high at 1,303, up 0.64% on the day, while Germany's DAX added 111 points, or 1.16% to 9,485, vastly outperforming the wider European markets. On the contrary of that, Britain's FTSE index tumbled 0.80% to 5,981, on Brexit fears as worries mount over the kingdom's future in Europe.

Wall Street opened with mixed results, as the Dow Jones rose 12 points, or nearly 0.1%, supported by a rally in IBM shares, while NASDAQ Composite lost four points, or 0.1% to trade at 4,528. S&P 500 gave up three points, or 0.13% to hover around 1,924.

Precious metal prices extended their losses today as risk sentiment grew stronger in the markets, with gold futures sliding a dollar and a half, or 0.12% to $1,210 an ounce, while silver futures made larger losses, down four cents, or 0.33% to trade at $15.33 an ounce.

Latest news

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

We start today's events, Tuesday, by the rise in oil prices affected by the easing of precautionary measures to combat turquoise corona in the world. US West Texas crude futures are expected to decre
08-2020 26 04:51:45

More News