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