Spreadex Market Update
Markets bounce on higher oil
Europe followed Asian gains, with all sectors trading up as oil moved above $30 a barrel. This boosted the miners as Antofagasta was top of the FTSE up 7.1%. All major European indexes moved higher with the French CAC 40 particularly impressive up nearly 2%.
Oil is finally showing some signs of stability, with some even believing that we’ve reached the bottom. The CEO of Vedanta Resources was adamant that the only way for the commodity was up and other commodity analysts revised their predictions upward. Light crude is currently just below $31.
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