Overseas Trading: Oil, Greek Debt Deal Lift Stocks in Europe

Global stocks are mostly higher, thanks to a rally on Wall Street, rising oil prices, and a new Greek debt deal

May 25, 2016 at 8:43 AM
facebook twitter linkedin

Stocks in Asia finished mostly higher, tracking significant gains on Wall Street. Oil prices also climbed during the session, boosted by data from the American Petroleum Institute, which indicated that U.S. crude oil stockpiles declined for the week. Japan's Nikkei added 1.6% as the yen pulled back slightly against the U.S. dollar. South Korea's Kospi climbed 1.2%, and Hong Kong's Hang Seng led the pack with a 2.7% gain -- its biggest daily win in more than a month.

Meanwhile, China's Shanghai Composite bucked the trend, shedding 0.2% after the People's Bank of China weakened the yuan to a five-year low against the dollar. Historically, a weakening of currency by the central bank has signaled concerns over the economy.

European markets are higher at midday, as a new debt-relief agreement for Greece bolstered bank stocks. The German DAX is up 1.3% after the Ifo Business climate index showed an uptick in business sentiment in May. London's FTSE 100 has added 0.6%, despite an earnings-related swoon among retailer, and France's CAC 40 is ahead 1%.

overseas stocks may 25

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. 


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners