Breaking News

Oil shines after brutal start to year, European shares extend rally

News Date: 13/1/2016 09:10:36
Update Date: 13/1/2016 11:02:29
 
Oil prices rose for the first time in eight sessions, supported by Chinese data which showed a marked improvement in trade flows, while a private survey released by the Petroleum Institute showed a drop of 3.9 million barrels in crude inventories to a total of 480.071 million. Forecasters expected a rise of 2.5 million barrels.

Brent crude futures  gained 66 cents, or 2.13% to $31.50 a barrel, while U.S. West Texas Intermediary (WTI) crude futures climbed 84 cents, or 2.78% to $31.23, after breaching the $30 barrier yesterday to record their lowest level in 12 years.

European shares rallied for the second day, with commodity companies leading the way. The pan-European FTSEurofirst index jumped 1.40% to 1,367. Germany's DAX underperformed, advancing 1.09% to 10,099. France's CAC added 60 points, or 1.46% to 4,442. Britain's FTSE climbed 70 points, or 1.23%, moving barely above the 6,000 mark.

 Euro slipped 0.20% against a basket of its peers after data showed industrial production falling by 0.7% m/m in November, much worse than the 0.2% drop expected, and following a 0.8% growth in October. Euro lost 0.30% against the dollar to 1.0827, while edging down 0.10% against sterling to 0.7512.

Copper prices rose following the positive China data, with the futures scaling up 0.43% to $1.968 a pound. Silver jumped 21 cents, or 1.56% to $13.95 an ounce. Gold fell however for the fourth session, giving up three dollars, or 0.27% to $1,082 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