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UK markets finished higher on Friday

Published: 10:45 25 Jan 2016 GMT

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UK Market Snapshot
UK markets finished higher on Friday, as investor confidence was restored amid a rebound in crude oil prices and on hopes of further monetary stimulus from the European Central Bank. BP, BG Group, Royal Dutch Shell and Tullow Oil gained 3.1%, 5.1%, 5.4% and 14.4%, respectively, tracking a rally in crude oil. Sports Direct International climbed 6.1%, after it revealed that it had taken a 14.4% stake in Iconix Brand Group. Home Retail rose 5.5%, following a broker upgrade on the share to ‘Neutral’ from ‘Underperform’ who also raised its price target. Antofagasta added 1.9%, after a broker resumed coverage on the stock and upgraded it to ‘Buy’ from ‘Sell’. On the contrary, Pearson declined 1.9%, reversing from its gains in the prior session. The FTSE 100 advanced 2.2%, to close at 5,900.0, while the FTSE 250 rose 1.9%, to settle at 16,128.0.
US Market Snapshot
US markets closed in the green on Friday, helped by a rally in crude oil and expectations that the ECB and the Bank of Japan would further ease their monetary policies. Meanwhile, data revealed that the US manufacturing PMI advanced unexpectedly in January. Schlumberger climbed 6.1%, after it reported better than expected earnings for the fourth quarter. Tech stocks, Alphabet, Facebook and Apple rose 2.6%, 4.0% and 5.3%, respectively. Boeing gained 1.0%, as it announced a 50.0% cut in production of its 747 aircrafts. Bucking the trend, American Express tanked 12.1%, after it disclosed plans of reducing its expenditure by $1.0 billion. General Electric lost 1.2%, after it posted a decline in its industrials business profits due to weakness in its energy sector business. The S&P 500 gained 2.0%, to settle at 1,906.9. The DJIA rose 1.3%, to settle at 16,093.5, while the NASDAQ advanced 2.7%, to close at 4,591.2.
Europe Market Snapshot
Other European markets finished sharply higher on Friday, with major indices continuing their gain from the ECB Chief’s comments of expanding the Euro-zone’s stimulus measures in March. Oil majors, Total, Technip, Statoil and Seadrill climbed 4.4%, 4.7%, 8.4% and 8.6%, respectively, as crude oil prices rose. Sandvik surged 6.6%, after it appointed Electrolux Chief Financial Officer, Tomas Eliasson, as its new CFO. Tod’s advanced 3.7%, after it reported better than expected sales for the fourth quarter and full year. On the downside, Koninklijke Philips shed 0.1%, after it ended the planned sale of its lighting and automotive lighting unit to a Chinese investor amid US regulatory concerns. The FTSEurofirst 300 index gained 3.0%, to close at 1,332.4. Among other European markets, the German DAX Xetra 30 rose 2.0%, to close at 9,764.9, while the French CAC-40 advanced 3.1%, to settle at 4,336.7.
Asia Market Snapshot
Markets in Asia are trading firmer this morning. In Japan, Japan Tobacco has jumped 7.1%, extending its rally, after requesting government permission to increase prices for some of its tobacco products. CyberAgent has advanced 6.3%, after a leading broker upgraded its rating on the stock. On the flipside, Takata has plummeted 10.7%, after US regulators stated that company’s 5 million more air bag inflators would be recalled following a 10th death due to its faulty devices. In Hong Kong, PetroChina and CNOOC have climbed 4.7% and 5.8%, respectively, as oil prices continued their rally. In South Korea, LG Electronics and POSCO have added 0.2% and 5.0%, respectively. The Nikkei 225 index is trading 0.7% higher at 17,083.4. The Hang Seng index is trading 1.8% up at 19,430.0, while the Kospi index is trading 0.8% higher at 1,895.4.

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