Overseas Trading: Oil Lifts Global Stocks; Japan Slapped By Stronger Yen

Most global markets are higher as optimism over a possible production freezes boost oil prices

Mar 18, 2016 at 8:41 AM
facebook twitter linkedin


Most Asian markets followed U.S. stocks higher today, as oil prices rose amid a weakening dollar and hope that a global production freeze will be discussed at an upcoming meeting between members and non-members of the Organization of the Petroleum Exporting Countries (OPEC). At the close, China's Shanghai Composite was up 1.7% following a report that showed February home prices surged by their highest margin since June 2014, Hong Kong's Hang Seng tacked on 0.8%, and South Korea's Kospi rose 0.2%. Japan's Nikkei, however, shed 1.3% -- its fourth straight daily loss -- as the strengthening yen continued to drag on exporters.

European stocks are up at midday, as crude futures rally. Additionally, stocks are reacting to European Central Bank (ECB) President Mario Draghi's warning to European Union (EU) leaders that the central bank's aggressive stimulus measures would not be enough to boost the economy. Against this backdrop, London's FTSE 100 is up 0.3%, while the French CAC 40 and the German DAX are each flirting with 0.2% gains.

160318overseas

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

What This Election Year Means for Stocks

Ipad with I voted sticker

  


 
Special Offers from Schaeffer's Trading Partners