The Fort Worth Press - European stocks rebound, oil higher in major trading week

USD -
AED 3.673042
AFN 68.112673
ALL 94.198378
AMD 389.366092
ANG 1.801814
AOA 913.000367
ARS 1003.850089
AUD 1.538462
AWG 1.8025
AZN 1.70397
BAM 1.877057
BBD 2.018523
BDT 119.468305
BGN 1.877115
BHD 0.376794
BIF 2953.116752
BMD 1
BND 1.347473
BOB 6.908201
BRL 5.801041
BSD 0.99976
BTN 84.384759
BWP 13.658045
BYN 3.27175
BYR 19600
BZD 2.015164
CAD 1.39805
CDF 2871.000362
CHF 0.893615
CLF 0.035758
CLP 977.925332
CNY 7.243041
CNH 7.25914
COP 4389.749988
CRC 509.237487
CUC 1
CUP 26.5
CVE 105.825615
CZK 24.326204
DJF 178.031575
DKK 7.158304
DOP 60.252411
DZD 134.27504
EGP 49.650175
ERN 15
ETB 122.388982
EUR 0.95985
FJD 2.27595
FKP 0.789317
GBP 0.798085
GEL 2.740391
GGP 0.789317
GHS 15.795384
GIP 0.789317
GMD 71.000355
GNF 8617.496041
GTQ 7.717261
GYD 209.15591
HKD 7.78445
HNL 25.264168
HRK 7.133259
HTG 131.234704
HUF 395.000354
IDR 15943.55
ILS 3.70204
IMP 0.789317
INR 84.43625
IQD 1309.659773
IRR 42075.000352
ISK 139.680386
JEP 0.789317
JMD 159.268679
JOD 0.709104
JPY 154.770385
KES 129.468784
KGS 86.503799
KHR 4025.145161
KMF 472.503794
KPW 899.999621
KRW 1404.510383
KWD 0.30785
KYD 0.833149
KZT 499.179423
LAK 21959.786938
LBP 89526.368828
LKR 290.973655
LRD 180.450118
LSL 18.040693
LTL 2.95274
LVL 0.60489
LYD 4.882192
MAD 10.057392
MDL 18.23504
MGA 4666.25078
MKD 59.052738
MMK 3247.960992
MNT 3397.999946
MOP 8.015644
MRU 39.77926
MUR 46.850378
MVR 15.460378
MWK 1733.576467
MXN 20.428504
MYR 4.468039
MZN 63.910377
NAD 18.040693
NGN 1696.703725
NIO 36.786794
NOK 11.072604
NPR 135.016076
NZD 1.714237
OMR 0.385039
PAB 0.99976
PEN 3.790969
PGK 4.025145
PHP 58.939038
PKR 277.626662
PLN 4.16352
PYG 7804.59715
QAR 3.646048
RON 4.778204
RSD 112.339038
RUB 104.308748
RWF 1364.748788
SAR 3.754429
SBD 8.383555
SCR 13.693555
SDG 601.503676
SEK 11.036204
SGD 1.346604
SHP 0.789317
SLE 22.730371
SLL 20969.504736
SOS 571.332598
SRD 35.494038
STD 20697.981008
SVC 8.748021
SYP 2512.529858
SZL 18.034455
THB 34.480369
TJS 10.647152
TMT 3.5
TND 3.17616
TOP 2.342104
TRY 34.552504
TTD 6.790153
TWD 32.583504
TZS 2659.340659
UAH 41.35995
UGX 3694.035222
UYU 42.516436
UZS 12825.951341
VES 46.55914
VND 25419
VUV 118.722009
WST 2.791591
XAF 629.547483
XAG 0.031938
XAU 0.000369
XCD 2.70255
XDR 0.760497
XOF 629.547483
XPF 114.458467
YER 249.925037
ZAR 18.15566
ZMK 9001.203587
ZMW 27.617448
ZWL 321.999592
  • RIO

    -0.2200

    62.35

    -0.35%

  • SCS

    0.2300

    13.27

    +1.73%

  • BCC

    3.4200

    143.78

    +2.38%

  • RBGPF

    59.2400

    59.24

    +100%

  • CMSC

    0.0320

    24.672

    +0.13%

  • NGG

    1.0296

    63.11

    +1.63%

  • BCE

    0.0900

    26.77

    +0.34%

  • GSK

    0.2600

    33.96

    +0.77%

  • BTI

    0.4000

    37.38

    +1.07%

  • BP

    0.2000

    29.72

    +0.67%

  • CMSD

    0.0150

    24.46

    +0.06%

  • RELX

    0.9900

    46.75

    +2.12%

  • JRI

    -0.0200

    13.21

    -0.15%

  • RYCEF

    -0.0100

    6.79

    -0.15%

  • AZN

    1.3700

    65.63

    +2.09%

  • VOD

    0.1323

    8.73

    +1.52%

European stocks rebound, oil higher in major trading week
European stocks rebound, oil higher in major trading week

European stocks rebound, oil higher in major trading week

Europe's main stock markets recovered Monday following gains in Asia and a pre-weekend rally on Wall Street, as traders look ahead to key policy decisions by OPEC and central banks as well as US jobs data.

Text size:

Share prices began the week higher following volatile trading in recent sessions as investors track concerns over high inflation and interest rate rises plus Covid uncertainty and the Ukraine-Russia crisis.

"There's no shortage of risk events for the markets this week with rate decisions from the Bank of England and the ECB (European Central Bank), the US jobs report and a slew of earnings," noted Victoria Scholar, head of investment at Interactive Investor.

Most Asian stock markets closed higher Monday, though traders remained nervous about the Federal Reserve's plan to hike US interest rates as it battles surging inflation.

The tech-heavy Nasdaq led the strong finish for US equities Friday thanks to soaring fourth-quarter profits at Apple, which lifted optimism about consumer spending and the economic recovery.

The strong performance, coupled with strong US economic data, filtered through to Asia, where trade was thinned by investors winding down ahead of the three-day Lunar New Year break that starts Tuesday.

- Rates in focus -

The gains followed a period of upheaval across world markets as the Fed readies to withdraw the vast financial support put in place at the start of the pandemic, which has fuelled a near two-year equity rally.

Observers debate the Fed's likely moves as US inflation sits at a four-decade high, with some saying it could hike up to seven times before 2023, with an initial 50 basis point move in March.

The Bank of England is widely expected to increase its main interest rate by a quarter-point Thursday to 0.5 percent.

That follows its decision in December to increase borrowing costs from a record-low 0.1 percent to 0.25 percent to combat decades-high inflation.

This week sees also an ECB policy update.

ECB chief Christine Lagarde has downplayed inflation concerns, arguing that the forces pushing up prices across the eurozone are expected to ease over 2022.

Official data Monday showed the eurozone economy grew 5.2 percent last year after a pandemic-induced recession.

Markets reacted positively to the re-election of President Sergio Mattarella in eurozone member Italy over the weekend.

Milan's FTSE MIB index was up 1.1 percent in late morning deals.

"The result of Italy's presidential vote has gone down well in the markets," said Capital Economics analyst Jack Allen-Reynolds, noting that government bond yields fell.

The only other serious contender for the job -- Prime Minister Mario Draghi -- was needed at the head of government to keep Rome on track with major reforms to the tax and justice systems and public sector.

- Oil up before OPEC -

Oil prices were higher as OPEC and its allies prepare to meet Wednesday to discuss a further increase in output.

Brent crude last week surpassed $90 per barrel, a level last seen in October 2014.

The price of West Texas Intermediate (WTI) crude hit its highest level in more than seven years earlier this month, fuelled by easing concerns about the Omicron Covid variant and geopolitical tensions.

Analysts have said that if Russia sends troops into Ukraine, crude prices could top $100 for the first time since 2014.

- Key figures around 1015 GMT -

London - FTSE 100: UP 0.2 percent at 7,480.44 points

Frankfurt - DAX: UP 1.3 percent at 15,515.41

Paris - CAC 40: UP 0.9 percent at 7,024.95

EURO STOXX 50: UP 1.3 percent at 4,189.18

Tokyo - Nikkei 225: UP 1.1 percent at 27,001.98 (close)

Hong Kong - Hang Seng Index: UP 1.1 percent at 23,802.26 (close)

Shanghai - Composite: Closed for a holiday

New York - Dow: UP 1.7 percent at 34,725.47 (close)

Euro/dollar: UP at $1.1178 from $1.1158 Friday

Pound/dollar: UP at $1.3445 from $1.3389

Euro/pound: DOWN at 83.13 pence from 83.16 pence

Dollar/yen: UP at 115.39 yen from 115.24 yen

Brent North Sea crude: UP 0.5 percent at $88.97 per barrel

West Texas Intermediate: UP 0.8 percent at $87.51 per barrel

C.M.Harper--TFWP