Global stocks rebound after Wall Street slide

AP News
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Posted: Mar 20, 2015 8:48 AM
Global stocks rebound after Wall Street slide

BEIJING (AP) — Stock markets in Asia and Europe rebounded on Friday after a slide in oil prices drove a Wall Street decline the previous day.

KEEPING SCORE: Germany's DAX added 1.1 percent to 12,025.18 and France's CAC-40 rose 0.5 percent to 5,064.18. Britain's FTSE 100 was up 0.2 percent at 6,973.92. On Wall Street, Standard & Poor's 500 futures were up 0.6 percent, while Dow futures were up 0.7 percent. The Dow lost 0.6 percent the previous session and the S&P fell 0.5 percent.

U.S. ECONOMY: Sentiment was dampened by data Thursday showing that weekly applications for unemployment aid edged up last week. That came after stocks surged Wednesday on news the Federal Reserve was in no hurry to raise ultra-low interest rates that have helped lift stock and bond prices.

THE QUOTE: "The data have looked a lot weaker of late and while the Fed may view it as a 'moderation,' we see it as a return to normality," said DBS Group in a report. "Fed liftoff date could become a perpetually rolling stone."

ASIA'S DAY: The Shanghai Composite Index gained 1 percent to 3,617.32 points and Tokyo's Nikkei 225 rose 0.4 percent to 19,560.22. Benchmarks in Sydney, New Zealand and Singapore also rose. Hong Kong's Hang Seng shed 0.4 percent to 24,375 and India's Sensex lost 0.3 percent to 28,370.78. Jakarta and Bangkok also fell. Seoul's Kospi was unchanged at 2,037.24.

ENERGY: Benchmark U.S. crude shed another 2 cents to $43.94 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $1.12 on Thursday to close at $45.53.

CURRENCY: The dollar gained to 120.93 yen from Thursday's 120.76 yen. The euro rose to $1.0736 from the previous day's $1.0668.