Arab Today, arab today oil gain boosts us shares fed stance hits other markets
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

From the surge in oil prices

Oil gain boosts US shares, Fed stance hits other markets

Arab Today, arab today

Arab Today, arab today Oil gain boosts US shares, Fed stance hits other markets

Volatility returned to Asian markets Thursday
New York - AFP

US shares got a boost Thursday from the surge in oil prices but markets elsewhere remained feeble on worries about weak global growth and a potential Federal Reserve rate hike.
Russian Energy Minister Alexander Novak's comments that Moscow could hold meetings with OPEC over production cuts of up to five percent gave a strong boost to crude prices, putting London benchmark Brent crude close to $36 a barrel.

Analysts' doubts that the Russians and the cartel could reach such a deal pulled oil prices back down later, with Brent still registering a respectable 79-cent gain at $33.89 a barrel.

The crude gain spilled over into equities, boosting the prices of large oil companies which have heavily suffered in the crude price collapse.

In New York trade Chevron gained 3.2 percent and ExxonMobil 2.3 percent, and the US-traded shares of BP and Shell surged 3.9 percent and 3.7 percent, respectively.

That, combined with strong advances by Caterpillar and Facebook on their more promising earnings reports and outlooks, sent the S&P 500 up for a 0.6 percent gain, and the Dow blue chips added 0.8 percent.
Providing a floor for Friday's trade, too, after the US close both Microsoft and Amazon reported solid quarterly earnings.

But more broadly there remained undercurrents of worry in the markets, after the US Federal Reserve left the door open for a new interest rate increase in March in its policy statement on Wednesday.

"Even though the (US) indices are up, there's still a negative overhang from the Fed not taking a March rate hike off the table," said Michael James of Wedbush Securities.

The Fed statement, in acknowledging slower growth but not shifting policy, cast a cloud over markets elsewhere.

"With investor sentiment quite poor and fixated on the negatives, they'll likely latch onto the Fed's focus over global risks," Mitsushige Akino of Ichiyoshi Asset Management told Bloomberg News.
Shares in Tokyo, Paris, London and Frankfurt all finished lower.

Also weighing on market sentiment in Europe was Italy's banking sector whose shares dived again on Thursday amid concerns over consolidation and the latest proposal for dealing with bad loans.

"It's the Italian banking sector which is the cause of investors' jitters," said Frederic Rozier, management adviser at Meeschaert Gestion Privee in Paris.

In Asia, markets were hit in the fallout of Apple's announcement that it expected a decline in iPhone sales in the current quarter amid market saturation for smartphones.

Apple rival Samsung fell sharply, as did several makers of components for the phones.
- Key figures at 2200 GMT -

New York - Dow: UP 0.8 percent at 16,069.94 (close)

New York - S&P 500: UP 0.6 percent at 1,893.36 (close)

New York - Nasdaq: UP 0.9 percent at 4,506.68 (close)

London - FTSE 100: DOWN almost 1.0 percent at 5.931,78 (close)

Frankfurt - DAX 30: DOWN 2.4 percent at 9.639,59 (close)

Paris - CAC 40: DOWN 1.3 percent at 4.322,16 (close)

EURO STOXX 50: DOWN 2.1 percent at 2,979.42

Tokyo - Nikkei 225: DOWN 0.7 percent at 17,045.45 (close)

Shanghai - Composite: DOWN 2.9 percent at 2,655.66 (close)

Hong Kong - Hang Seng: UP 0.8 percent at 19,195.83 (close)

Euro/dollar: UP at $1.0941 from $1.0892 Wednesday

Dollar/yen: UP at 118.82 yen from 118.67 yen
Source :AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil gain boosts us shares fed stance hits other markets Arab Today, arab today oil gain boosts us shares fed stance hits other markets

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today oil gain boosts us shares fed stance hits other markets Arab Today, arab today oil gain boosts us shares fed stance hits other markets

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday