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European stocks rally as oil rises

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    European markets advanced on Wednesday ahead of the release of the Federal Reserve's minutes, tracking the rise in oil prices.

    Index scorecard

    At the time of writing, the blue chip Euro Stoxx 50 index was up 2%. Germany’s DAX was up 1.7%. France’s CAC and UK’s FTSE added 2% and 1.6% respectively. Italy’s FTSE MIB was up 2% as well.

    Shares in France’s Schneider Electric and Societe Generale were up 9% and 4% respectively. In London, Glencore shares were up 9.5%. Anglo American was up 7.4% as well.

    Oil prices rallied at both the sides of the Atlantic advanced on hopes that the meeting between OPEC and Iran would end up in a production freeze agreement.

    Markets now await minutes of the Federal Reserve's last meeting to judge views of policymakers on the prospect of further rate hikes.
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