#AceFinanceNews – Aug.15: European stocks are mostly higher, following gains in Asia. New US data on manufacturing, housing and inflation are due this week, The dollar was softer on Monday, pegged back by sluggish U.S. data that tempered expectations of a Federal Reserve news that Japan’s economy grew more slowly than expected….
Oil extends rally to five-week highs on talk of producer action
Crude hit a one-month high Monday on hopes that the prolonged oil-price rout may drive major producers to reconsider a collective production cap. Brent crude, the global oil benchmark, rose 0.9% to $47.38 a barrel on London’s ICE Futures exchange. Oil prices hit five-week highs on Monday, gaining about 10 percent in a three-day rally as speculation intensified over potential producer action to support prices amid a crude glut. A rebound in oil sends all 3 major US indexes to fresh record highs CNBC http://cnb.cx/2aWbC3L
China shares hit seven-month high; world yields keep falling
World shares set up camp at one-year peaks on Monday as a rally in Chinese stocks helped offset news that Japan’s economic growth had ground to a halt in the last quarter, while #oil prices extended their latest rally.
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