Global Indices Gain on Improved Risk Appetite

Intercontinental Exchange Inc (NYSE:ICE)

Boosted by a positive OPEC outlook on oil prices, global indices ended the week with strong gains made before Friday’s closing bell.  European stocks posted heavy declines on Thursday following the announcement by the ECB of stimulus measures that were bolder than markets had been previously anticipating. Having digested the news and boosted by the news that OPEC, in its monthly report, suggested that oil prices had in fact bottomed, global indices all rose on Friday.

European Stocks

Led by strong gains made in its Transportation sector, Germany’s DAX surged 3.51% to a new 1-month high, closing Friday at 9,831.13, . France’s CAC 40 jumped 3.27% to close at 4,492.79, and the UK’s FTSE 100 closed 1.71% higher to close at 6,139.79.

US Stocks

Buoyed by a surge in oil prices, US stocks followed the European lead.  The Dow Jones Industrial Average closed up 1.28% to 17,213.31, having hit its highest level since the January 6 at one point during the trading session. The NASDAQ Composite index finished 1.85% higher at 4,748.47 and the S&P 500 Composite index jumped 1.64% to 2,022.19., making it a 1% gain for the week overall.  The 10 sectors all in the S&P 500 finished in the green, as stocks in the Financial, Health Care and Energy industries led the way with strong gains.

Asian Stocks

Having made gains on Friday, all eyes will be on the opening bell of the Asian trading session as investors react to the latest set of weak Chinese data releases.

 

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Ben Myers

After graduating with a degree in Finance and Accounting, Ben has had a long and distinguished career in the world of global finance and investment. After working with multi-national institutions including HSBC and Bank of Ireland, Ben ran his own independent investment advice firm in the UK before chief analyst stints at a number of forex/binary options companies. Ben is currently CEO of www.mediamile.com and remains a keen trader and a featured contributor at investing.com and dailyforex.

About the Author

Ben Myers
After graduating with a degree in Finance and Accounting, Ben has had a long and distinguished career in the world of global finance and investment. After working with multi-national institutions including HSBC and Bank of Ireland, Ben ran his own independent investment advice firm in the UK before chief analyst stints at a number of forex/binary options companies. Ben is currently CEO of www.mediamile.com and remains a keen trader and a featured contributor at investing.com and dailyforex.