LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Oil bounce, results keep global stocks on high

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Jul 26, 2017
02:24 pm
Reuters

Oil`s rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe worries that the world economy may be ripe for a another slowdown.

European stock markets were mainly higher, led by energy and commodity-linked companies after Brent crude topped the $50 mark for the first time since early June.

A slightly less bullish performance in Asia pulled the MSCI world equity index, which tracks shares in 46 countries, off all-time highs overnight. But early in the European session, it was up 0.1 percent on the day.

Strong results from energy firms Subsea 7 and Tullow Oil helped European shares while banks weighed on index-level gains as investors awaited a Fed policy decision and UK GDP figures.

"The indications are more positive on the outlook for energy stocks. While there was a lot of kitchen sinking from firms in Q2 numbers, they have reset the expectations over the valuations now, they have cleaned up balance sheets," said Angelo Meda, head of equities at Banor SIM in Milan.

"The outlook is not so bad (...) We are still missing one component which is the commentary from big oil firms Total, BP, Royal Dutch Shell."

The pan-European STOXX 600 gained 0.3 percent, in line with euro zone stocks and blue-chips, as oil and gas stocks gained 0.8 percent.

Germany’s Ifo business survey on Tuesday showed confidence soaring to record highs in July amid what its economists described as a ‘euphoric’ mood in German industry while U.S. consumer confidence levels jumped to near 16-year highs.

The latter numbers helped the dollar recover some ground in U.S. and Asian trading on Tuesday, with traders citing a trimming of positions ahead of the Fed meeting, not due until late in the U.S. session. (1800 GMT)

The dollar, hurt since March by a retreat in expectations for further rises in interest rates this year, gained just over 0.1 percent against both the euro and the euro-dominated basket of currencies most used to measure its broader strength.

"Most people have an ultra benign view of what we will get out of the Fed today," said Koon Chow, a strategist at Swiss private bank UBP.

"The focus is not so much on the next hike but the start of the roll off [reduction of the central bank`s balance sheet]. The Fed has already helped us a lot by indicating that when it happens it will be a very gradual process."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Two biz lessons from India vs Australia Cricket Test Match, straight from the Fund Manager's desk

SBI MF Retirement Benefit Scheme: 200% returns than FD! Term insurance of up to Rs 50 lakh! Should you invest? EXPLAINED

Bigg Boss 14: Rakhi Sawant, Rahul Vaidya, Nikki Tamboli, Abhinav Shukla- Desperate tricks that backfired badly

PPF vs NPS: Very detailed comparison for retirement fund - EXPLAINED

Amit Shah calls emergency meeting following farmers' violence

CBSE Class 10, Class 12 exams 2021: Datasheet announcement in March? What past trends suggest and possible reasons for delay

How to send messages to yourself on WhatsApp; know the trick here

RBI Grade B 2021 Notification News: Bumper vacancies at Reserve Bank of India! Check how to apply online at rbi.org.in

Kangana Ranaut: Indians supporting farmers' protests are ''terrorists'', should be jailed

Indigo Paints IPO: How to check share allotment status? SHORTEST WAY! Know subscription directly from BSE, Link Intime website

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved