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Global Stocks: shares rose amid gains in oil prices
European stocks finished slightly lower Thursday, rattled somewhat by a jump by the euro against the dollar and heightened global growth concerns after the Federal Reserve took a less aggressive stance on future rate increases.
The Dow Jones Industrial Average rose for the fifth straight session on Thursday to close in positive territory for 2016 for the first time this year. The energy, materials and industrials sectors rose sharply, helped by soaring commodity prices. Crude-oil futures jumped above $40 a barrel for the first time since Dec. 3, aided by hopes over reducing of output and a sharp drop in the U.S. dollar.
Most Asian shares rose Friday amid gains in oil prices and a surge in major currencies across the region. Stock markets that rallied rebounded on stronger currencies relative to the U.S. dollar. The moves were largely driven by the weakness in the dollar after U.S. central bank officials on Wednesday held steady the benchmark interest rate and slowed the pace of future rate increases.
Based on MarketWatch materials
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