Premarket: Global stocks gain as U.S. dollar eases, oil prices fall

Global markets showed signs of recovery in early European trading on Thursday, with stocks rising and the U.S. dollar pulling back from recent gains, while finance chiefs of the U.S., Japan and South Korea issued a rare warning about currency weakness.

At 0855 GMT, the MSCI World Equity Index was up 0.2 per cent on the day, but still down 1.9 per cent so far this week.The pan-European STOXX 600 was up 0.2 per cent, while Britain’s FTSE 100 advanced 0.24 per cent. Germany’s DAX was flat and France’s CAC 40 added 0.42 per cent. “There’s still a little bit of optimism of lower rates, in the euro zone, that’s helping support European stocks,” Cincotta said.

Lower oil prices can be seen as positive for stock markets as they help contain inflation, improving the chances for central bank interest rate cuts. The United States, Japan and South Korea agreed to “consult closely” on foreign exchange markets in their first trilateral finance dialog on Wednesday, acknowledging concerns from Tokyo and Seoul over their currencies’ recent sharp declines.

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