Breaking News

European shares rally as oil and copper recover.

News Date: 23/12/2015 09:37:36
Update Date: 23/12/2015 10:28:27

Oil prices recovered strongly, with Brent crude futures trading at $36.68 a barrel, up 57 cents, or 1.59%. U.S. West Texas Intermediary (WTI) crude futures traded at a premium to Brent for the first day since November 2014, at $36.72 a barrel, up 60 cents, or 1.61%. Copper trimmed its gains but was still up 0.35% for the day at $2.116 a pound.


European markets rallied, following gains by their Asian counterparts, and as mineral companies surge on the back of the copper recovery. The pan-European index FTSEurofirst jumped to a week-high at 1,433, up a handsome 2.31%. Britain's FTSE rose 2.17% to 6,215, buoyed by some of its commodity components, like Glencore which surged 6.13%, and BP, which rose close to 4.0%. Germany's DAX added 200 points, or 1.92% to 10,689. France's CAC advanced a hundred points, or 2.13% to 4,666.  


Britain's third quarter GDP growth was revised down to 0.4% q/q, from an earlier estimate of 0.5%. Sterling shrugged the data off however, keeping its head above the dollar by 0.47% to 1.4891, and more than wiping its yesterday losses. It jumped 0.91% against the euro to 0.7320. Sterling climbed 0.33% against the yen to 180.02.


Dollar eked out some gains, aside from its losses against sterling. Its index was up 0.25% to 98.47. It rose a solid 0.50% against the euro to 1.0902. It extended its losses against the yen however to 120.88, down 0.16% for the day.


Gold prices remained down for the day by $4.60, or 0.43% to $1,069 an ounce. Silver gave up seven cents, or 0.48% to $14.24 an ounce.


Wall Street opened higher in tandem with its European peers, with Dow Jones adding 130 points, or 0.77% to 17,551. NASDAQ jumped 28 points, or 0.57% to 5,029. S&P 500 rose 13 points, or 0.65% to 2,052.      


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