MARKETS: Report: Russia keeps base rates unchanged at 10% but eyes a rate cut in 2017 as European stock close higher on Friday after decision by OPEC and non OPEC nations with #oil at over $50 by end of trading – @AceFinanceNews

#AceFinanceReport – Dec.17: Russia announced Friday it was keeping its key rate at 10 percent but opened the door to a rate cut in the first half of 2017.

The German Ifo Institute raised its economic forecast for 2018 growth in the country to 1.7 percent, from a previous estimate of 1.6 percent.

#Oil and #gas stocks closed more than 1.5 percent higher Friday after producers in the Middle East started informing clients of planned output cuts, indicating that they are willing to implement the OPEC and non-OPEC deal to stabilize oil prices. Goldman Sachs said Friday that it expects an 84 percent compliance to the planned output cuts.

Brent crude traded at around $55.14 a barrel as the European market closed on Friday, up 1.15 percent, while U.S. WTI crude was around $51.93 a barrel, up 1.05 percent

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