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European stocks rally after Easter break, but oil falls below $40 - business live

Discussion in 'Market News' started by Lily, Mar 29, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    All the day’s economic and financial news, as the Bank of England announces its new bank stress tests and a possible clampdown on buy-to-let mortgages

    8.23am BST

    European stock markets have opened higher this morning as traders return to their desks after the Easter break.

    The main indices have risen by at least 0.5% at the open, as traders ponder the strength of the recent rally since the turmoil of January and early February.

    “It is certainly not a global economic backdrop where one could say that a lot of clarity is on offer at present.”

    Over the last couple of weeks European markets have struggled to move meaningfully in either direction, contained by a stabilisation in commodity prices, slightly less concern about the Chinese economy, and commitments to slightly looser policy from the Bank of Japan, European Central Bank and the Peoples Bank of China.

    8.08am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    It’s a nerve-wracking day for Britain’s steel industry. Top executives at India’s Tata are meeting in Mumbai to decide whether to continue supporting its operation in Port Talbot.

    The interest rate markets see a further hike in June as a 36% probability, so in theory, Ms Yellen only really needs to acknowledge the improvement in inflation forces and we could see the US dollar rally.

    Continue reading...

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