This article is from the source 'washpo' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.washingtonpost.com/world/europe/asian-stocks-rally-after-wall-street-gains-as-oil-rise/2016/02/17/ca0364c0-d5f0-11e5-a65b-587e721fb231_story.html

The article has changed 13 times. There is an RSS feed of changes available.

Version 1 Version 2
Asia stocks gain after oil rises, US manufacturing improves Global stocks gain after oil up, US factory output improves
(about 4 hours later)
SEOUL, South Korea — Asian stocks mostly posted strong gains on Thursday as a rebound in the price of oil and solid U.S. manufacturing data boosted European markets and Wall Street. SEOUL, South Korea — Global stocks mostly posted strong gains on Thursday as a rebound in the price of oil and solid U.S. manufacturing data boosted investor sentiment.
KEEPING SCORE: Japan’s Nikkei 225 jumped 2.3 percent to 16,208.55 and South Korea’s Kospi rose 1.1 percent to 1,904.60. Hong Kong’s Hang Seng surged 2.4 percent to 19,389.98. Australia’s S&P/ASX 200 gained 2.3 percent to 4,992.00. Stocks in mainland China, Taiwan, and Southeast Asian were also higher. KEEPING SCORE: In early European trading, Germany’s DAX was up 0.3 percent to 9,402.55. France’s CAC 40 traded 0.2 percent higher at 4,240.42. But Britain’s FTSE 100 lost 0.6 percent to 5,995.82. Futures augured a tepid start for U.S. stocks. Dow and S&P futures were both little changed.
IRAN RELIEF: Iran’s oil minister said the country supports “any measure” to boost oil prices and voiced its support for a plan to stabilize and boost prices laid out earlier this week by four influential oil producers. Saudi Arabia, Qatar, Russia and Venezuela reached the agreement in Doha to cap their crude output if others do the same. Markets have been rattled the months-long slump in oil prices, which has hammered the share prices of energy companies and spilled over into worries about losses for banks.IRAN RELIEF: Iran’s oil minister said the country supports “any measure” to boost oil prices and voiced its support for a plan to stabilize and boost prices laid out earlier this week by four influential oil producers. Saudi Arabia, Qatar, Russia and Venezuela reached the agreement in Doha to cap their crude output if others do the same. Markets have been rattled the months-long slump in oil prices, which has hammered the share prices of energy companies and spilled over into worries about losses for banks.
ANALYST’S TAKE: “Initial disappointment on the tentative ‘freeze’ agreement between Saudi Arabia and Russia was reversed after Iran voiced support for the agreement, raising hopes of further steps between major oil producers to stabilize the market,” said Mizuho Bank in a daily commentary.ANALYST’S TAKE: “Initial disappointment on the tentative ‘freeze’ agreement between Saudi Arabia and Russia was reversed after Iran voiced support for the agreement, raising hopes of further steps between major oil producers to stabilize the market,” said Mizuho Bank in a daily commentary.
ASIA’S DAY: Asian stock markets started with a broad rally but gains narrowed. Japan’s Nikkei 225 jumped 2.3 percent to 16,196.80 and South Korea’s Kospi rose 1.3 percent to 1,908.84. Hong Kong’s Hang Seng surged 2.3 percent to 19,363.08. Australia’s S&P/ASX 200 gained 2.3 percent to 4,992.00. Stocks in mainland China finished slightly lower while markets in Taiwan and Southeast Asian were higher.
US DATA: The Federal Reserve said U.S. factories cranked out more autos, furniture and food last month, boosting production by the most since July. Manufacturing output rose 0.5 percent in January, after falling in four of the previous five months. Overall industrial production, which includes mining and utilities, added 0.9 percent, the biggest jump in 14 months.US DATA: The Federal Reserve said U.S. factories cranked out more autos, furniture and food last month, boosting production by the most since July. Manufacturing output rose 0.5 percent in January, after falling in four of the previous five months. Overall industrial production, which includes mining and utilities, added 0.9 percent, the biggest jump in 14 months.
GLOBAL RALLY: On Wednesday, European stocks finished sharply higher and Wall Street extended its gains for a third day. Germany’s DAX finished up 2.7 percent and Britain’s FTSE 100 jumped 2.9 percent. France’s CAC 40 closed 3 percent higher. On Wall Street, the Dow Jones industrial average gained 1.6 percent to 16,453.83. The S&P 500 rose 1.7 percent to 1,926.82. The Nasdaq composite index jumped 2.2 percent to 4,534.06. ENERGY: Benchmark U.S. oil added 69 cents to $31.35 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract jumped $1.62, or 5.6 percent, to close at $30.66 a barrel. Brent crude, a benchmark for international oils, rose 41 cents to $34.91 in London after jumping 7.2 percent the previous day.
ENERGY: Benchmark U.S. oil added 63 cents to $31.29 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract jumped $1.62, or 5.6 percent, to close at $30.66 a barrel. Brent crude, a benchmark for international oils, rose 59 cents to $35.09 in London after jumping 7.2 percent the previous day. CURRENCIES: The dollar slipped to 113.86 yen from 114.14 yen. The euro rose to $1.1138 from $1.1124.
CURRENCIES: The dollar slipped to 113.98 yen from 114.14 yen. The euro rose to $1.1137 from $1.1124.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.