Market rally fizzles out as US oil stocks jump - as it happened

Market rally fizzles out as US oil stocks jump - as it happened

The Guardian: Economics

All the day’s economic and financial news, as markets rally in Asia and Europe

A stunning session in Asia has sent Japan’s Nikkei index surging by 4%.

A burst of renewed confidence helped investors to drive the Tokyo market up to its highest level since 8 February.

“Following the selloff and the fears of recession that emerged early in the new year, people pulled back aggressively from their previous expectations about how a rate hike from the Federal Reserve might unfold,

“Suddenly some of this lost confidence has been restored as we’ve seen a lot of recent economic data from the U.S. beating expectations.”

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Our European opening calls:$FTSE 6211 up 58
$DAX 9839 up 121
$CAC 4461 up 54$IBEX 8706 up 95$MIB 18210 up 198

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