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| Version 1 | Version 2 |
|---|---|
| Stock markets rise as recovery continues | Stock markets rise as recovery continues |
| (about 2 hours later) | |
| Shares across Europe have risen, helped by a rally in oil prices and hopes of more stimulus action by central banks. | Shares across Europe have risen, helped by a rally in oil prices and hopes of more stimulus action by central banks. |
| London's FTSE 100 index was up more than 2%, with share indexes elsewhere in Europe showing similar gains. | |
| Shares had risen strongly on Thursday, following hints from the European Central Bank that it was considering more action to boost the eurozone's economy. | Shares had risen strongly on Thursday, following hints from the European Central Bank that it was considering more action to boost the eurozone's economy. |
| The rise in shares comes at the end of a turbulent week for the markets. | |
| Stock markets had dived earlier in the week as investors fretted over falling oil prices and prospects for China's economy. | Stock markets had dived earlier in the week as investors fretted over falling oil prices and prospects for China's economy. |
| Draghi impact | Draghi impact |
| In London, the benchmark FTSE 100 share index was up 141.09 points, or 2.4%, at 5,914.88 shortly before midday. | |
| Elsewhere in Europe, Germany's Dax index was up 2.1% while in France the Cac 40 index was 3.3% higher. | |
| The recovery in stocks had begun on Thursday, following a press conference from European Central Bank (ECB) president Mario Draghi. | The recovery in stocks had begun on Thursday, following a press conference from European Central Bank (ECB) president Mario Draghi. |
| After the ECB had kept eurozone rates on hold, Mr Draghi hinted that the bank might take more action to try to stimulate the eurozone economy later this year. | After the ECB had kept eurozone rates on hold, Mr Draghi hinted that the bank might take more action to try to stimulate the eurozone economy later this year. |
| He said the bank would "review and possibly reconsider" monetary policy at its next meeting in March. | He said the bank would "review and possibly reconsider" monetary policy at its next meeting in March. |
| Mr Draghi also said eurozone rates would "stay at present or lower levels for an extended period" and there would be "no limits" to action to boost the eurozone. | Mr Draghi also said eurozone rates would "stay at present or lower levels for an extended period" and there would be "no limits" to action to boost the eurozone. |
| Earlier on Friday, Japan's Nikkei index jumped by nearly 6%. The market there had been lifted by speculation that the Bank of Japan was considering a fresh wave of stimulus measure to try to boost the economy. | |
| Oil rebound | Oil rebound |
| Markets have also been encouraged by a recovery in oil prices. | Markets have also been encouraged by a recovery in oil prices. |
| Earlier this week, oil prices fell to their lowest level since 2003 - around $27 a barrel - after the International Energy Agency warned that oil markets could "drown in oversupply" in 2016. | |
| However, on Friday the price of Brent crude was up $1.76 on the day at $31.01 a barrel, while US crude was $1.46 higher at $30.99 a barrel. | |
| The prospect of colder weather in the US and Europe was being cited as one factor behind the rise. | The prospect of colder weather in the US and Europe was being cited as one factor behind the rise. |
| The US east coast is expected to be hit by a huge blizzard later on Friday. | The US east coast is expected to be hit by a huge blizzard later on Friday. |