Draghi and oil save FTSE from bears — The Accumulator

North American markets were up again on Friday

HONG KONG - The head of Hong Kong's stock exchange said Thursday that he wasn't a fan of recent moves by Beijing to prop up sagging share prices but it won't stop the exchange from expanding ties with mainland Chinese counterparts. Last year, the U.S. mining sector, which includes oil and gas, shed 130,000 jobs even as overall hiring grew at a healthy clip.

The benchmark S&P 500 U.S. equity index rallied 2 percent and registered its first positive week of 2016 thanks to the bounce in oil.

"At least one of the major central banks is willing to be... more pragmatic and recognize that when facts change, you may need to revisit your policies", he said.

Bank of Japan Governor Haruhiko Kuroda said there is further room for the bank to expand its quantitative easing program if inflation continues to wane.

Miners also recorded strong gains as iron ore prices surged following the closure of one of the main ports of top producer Vale SA in Brazil on the allegations for environmental breaches. The yield on the 10-year Treasury note rose to 2.02 percent.

The Dow Jones industrial average picked up 115.94 points, or 0.7 percent, to 15,882.68. Americans saved 5.5 percent of their incomes in November, up nearly a full percentage point from a year earlier. The Upstream segment engages in the oil and natural gas exploration, field development, and production; midstream transportation, and storage and processing; and marketing and trade of natural gas, including liquefied natural gas (LNG), and power and natural gas liquids (NGL). The index has swung from gains to losses for seven consecutive sessions as investors seek a bottom to a rout this year that's erased 8.3 percent from the benchmark.

With a drop in housing permits and weak new orders in manufacturing leading the decline, the Conference Board released a report on Friday showing a modest decrease in leading U.S. economic indicators in the month of December. The price of Brent crude tumbled to just above $27 a barrel on Wednesday, as the International Energy Agency warned the oil market could 'drown in oversupply'.

Oil prices extended an overnight rally that began after data showed stockpiles at some U.S. sites rose less than some had expected and as cold U.S. and European weather spurred demand.

Currency analysts at Goldman Sachs lowered their euro forecasts late on Thursday, in a note that predicted the currency would fall below parity with the dollar and end the year at $0.95. The Nasdaq composite index added less than half a point and closed at 4,472.06.

The MSCI All Country World Index rose 2.4 percent, while Europe's pan-regional FTSEurofirst 300 index jumped 3.0 percent. European stocks edged higher ahead of a central bank meeting Thursday, Jan. 21, 2016, while Asian markets fell, surrendering early gains as oil drifted down and sentiment remained fragile.

The Canadian dollar strengthened the most in 10 months as crude-oil prices rose. It said 1 in 6 American adults received a Starbucks gift card over the holidays.

Societe Generale increased 5.01 percent and Credit Agricole rose 2.62 percent. The EconoTimes content received through this service is the intellectual property of EconoTimes or its third party suppliers. He once again said the bank was willing to act on Friday morning, speaking at the World Economic Forum in Davos. Neither EconoTimes nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.

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