GLOBAL MARKETS 29/09 THURSDAY
Most Asian markets closed higher on Thursday after an oil-price rally amid reports of potential production cuts. Japan's benchmark Nikkei 225 index jumped 1.39% to close at 16,693.71 and South Korea's Kospi advanced 0.76% to 2,068.72. Hong Kong's Hang Seng rose 0.51% to 23,739.47 and the Shanghai Composite Index gained 0.35% to 2,998.48. Australia's S&P/ASX 200 climbed 1.09 to 5,471.26. Indexes in Taiwan, Singapore, Indonesia, Thailand, the Philippines and New Zealand also rose.
European stock indexes closed flat/mixed, in spite of a strong performance in basic resources and energy stocks as excitement over yesterday's news of a possible OPEC production deal sagged and weak U.S. housing data curbing investor optimism.The Stoxx Europe 600 index ended the choppy session up 0.04% at 342.72. The U.K.’s commodity-heavy FTSE 100 index on the other hand, ended the day up 1.02% at 6,919.42. Germany’s DAX 30 index closed down 0.31% at 10,405.54. France’s CAC 40 advanced 0.26% to 4,443.84.
U.S. stocks closed sharply lower, recovering from session lows, following a selloff fueled by investor worry about European banks and talk of a December rate increase by the Federal Reserve.The Dow Jones Industrial Average closed down 195.79 points, or 1.07%, at 18,143.45.The S&P 500 index dropped 20.24 points, or 0.93%, to close at 2,151.13.The Nasdaq Composite Index overcame an earlier 64-point deficit and finished down 49.39 points, or 0.93%, at 5,269.15.
Oil prices settled at a more than one-month high on Thursday as optimism over an OPEC plan to limit output was offset by questions over its ability to rebalance a heavily over-supplied market.Global benchmark Brent Crude oil was up 36 cents a barrel at $49.05. U.S. Light Crude oil settled up 78 cents, or 1.7 percent, at $47.83 a barrel,.
Gold reversed earlier losses on Thursday as all three major U.S.Indexes closed lower. Spot Gold was flat at $1,321.15 an ounce, having touched an overnight high of $1,325.80. U.S.Gold Futures settled up 0.2 percent at $1,326, and were last up 0.06 percent at $1,324.50.