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Sunday, December 21, 2014, Poush 7, 1421, Safar 27, 1436 Hijr

European stocks mixed, oil markets rise
Published : Sunday, 21 December, 2014,  Time : 12:00 AM,  View Count : 5
LONDON, Dec 20:  European stocks traded mixed on Friday following strong gains the previous day, while oil futures rose after sharp falls amid huge volatility across global markets ahead of the festive shutdown.
London's benchmark FTSE 100 index climbed 1.23 percent to close at 6,545.27 points, but in Paris the CAC 40 slid 0.18 percent to 4,241.65 and in Frankfurt the DAX 30 shed 0.25 percent to 9,786.96.
Global stock markets had surged in a "Santa Claus rally" on Thursday as dealers welcomed the outcome of the US Federal Reserve meeting which signalled an interest rate increase was not imminent.
Asian markets continued the trend on Friday, with Tokyo jumping 2.39 percent by the close and Hong Kong up 1.25 percent.
The Bank of Japan on Friday struck a more upbeat view of the world's number three economy, saying exports were showing signs of picking up while factory output has started to "bottom out".
The comments came as policymakers wrapped up a two-day meeting where they held off fresh easing measures, after announcing in late October a huge expansion of the BoJ's asset-buying programme.
"He left it late this year, but Santa finally provided a Christmas rally yesterday, after stability entered the previously volatile rouble and Brent Crude oil, and positivity from US and Japan led to worldwide rallies," Connor Campbell, analyst at Spreadex trading group, said Friday.
However in Europe on Friday "the reindeer got tired and Santa took a break from his rally," said CMC Markets UK analyst Jasper Lawler.
He added that "after the strongest two-day action in years and no major catalyst for the next leg higher, shares were due a pullback."
US stocks also had trouble keeping up the momentum on Friday.
The Dow Jones Industrial Average had crept up 0.04 percent to stand 17,784.97 points in midday trading
The broad-based S&P 500 added 0.24 percent to 2,066.28, and the tech-rich Nasdaq Composite Index rose 0.26 percent to 4,760.88.

Editor : Iqbal Sobhan Chowdhury
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