Breaking News

Brent crude tumbles to 11-year low, Euro edges up.

News Date: 21/12/2015 09:38:34
Update Date: 21/12/2015 10:27:39
 

Brent crude futures collapsed to their lowest level since 2004 at $36.05, an eleven-year low, before pulling back to $36.32 a barrel, down 56 cents, or 1.52% for the day. U.S. crude futures hit a new 7-year low at $34.12, before recovering modestly to $34.50 per barrel, still down 23 cents, or 0.66% for the day. Oil faces a gloomy outlook, as production of the crude keeps running at near-record volumes, while demand isn't catching up to the significant oversupply.

 

Euro's index, which measures the common currency against a basket of its peers, edged up 0.30% to 87.74. Euro advanced 0.29% against the dollar to 1.0899. It hit a two-month high against sterling at 0.7306, up 0.18% for the day. It regained some of its losses against the yen, trading at 132.12, up 0.25% for the day.

 

European shares took spirit from Asian gains, with the pan-European stock index FTSEurofirst for the biggest 300 companies up 0.22% at 1,422. The gains were subdued however due to a plunge in Spanish stocks, after inconclusive national elections results spooked investors, with Spain's economic recovery under serious risks from the political instability. Spain's main stock index IBES 35 tumbled 2.41%. Germany's DAX jumped 1.00% however, at 10,711. France's CAC added 20 points, or 0.43% to 3,645. Britain's FTSE rose more than 0.90%, buoyed by mineral companies after a strong showing by non-oil commodities; with Glencore surging 4.0% and Antofagasta gaining 2.5%.

 

Wall Street opened higher in tandem with its European counterparts, with Dow Jones advancing 130 points, or 0.80% to 17,216. NASDAQ added 40 points, or 0.80% to 4,961. S&P 500 rose 12 points, or 0.63% to 2,018.

 

With help from a weakening dollar, gold futures jumped 10 dollars, or 0.93% to $1,074 an ounce. Silver futures tagged along, gaining 13 cents, or 0.92% to $14.22 an ounce.  

 

Latest news

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News

Logs

Advertisements