Global Stocks Mostly Edge Up After Oil Price Rally
April 07 2016 - 4:50AM
Dow Jones News
Global stocks mostly edged higher Thursday following a sharp
rally in oil prices propelled higher by an unexpected decline in
U.S. crude stockpiles Wednesday.
The Stoxx Europe 600 was up 0.3% in early trade, led higher by
energy and health-care stocks. Brent crude was recently flat on the
day at $39.85 a barrel, after a 5% rise Wednesday helped Wall
Street snap a two-day losing streak. Health-care stocks, after
lagging for most of this year, were also among the largest gainers
after Pfizer and Allergan terminated their planned $150 billion
merger.
The moves came following the release of minutes from the
Federal's Reserve's March policy meeting Wednesday that showed
officials were unlikely to raise interest rates in April. Low
interest rates have supported stock markets in recent years.
Chinese stocks fell Thursday, with the Shanghai Composite Index
ending down 1.4% amid concerns about the expiration of restrictions
on large shareholders selling domestic stocks. Stocks elsewhere in
Asia were little changed, with the Nikkei Stock Average gaining
0.2% despite the yen surging against the dollar—a move that tends
to dent Japanese stocks.
--Chao Deng contributed to this article.
Write to Christopher Whittall at
christopher.whittall@wsj.com
(END) Dow Jones Newswires
April 07, 2016 04:35 ET (08:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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