LONDON: Signs of a stabilisation in China's giant economy and a soggy dollar helped oil markets cement their best run for more than three years on Friday, though stocks weren't buoyed much after spending most of the week treading water.China's data showing exports rebounded nicely last month helped offset weaker imports and reports in Europe of another cut to Germany's growth forecasts, while Turkey's lira was back on the ropes amid worries about its trajectory.
Europe's bourses slowly shook off another groggy start, as had Wall Street futures which were limbering up for earnings from bulge-bracket banks JPMorgan and Wells Fargo. Driving the rise has been involuntary supply cuts from Venezuela, Libya and Iran, which have supported perceptions of a tightening market already underpinned by a production reduction deal from OPEC and its allies.
In bond markets, Germany's 10-year government yields nudged back into positive territory but were capped by a report in Der Spiegel magazine that Berlin was set to halve its economic growth forecast for 2019 to 0.5 percent from 1.0 percent
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »