Wednesday 20th May

After fluctuating between positive and negative .. European shares finished up over one percent though London’s FTSE 100 stayed in the red.

Energy shares were boosted by oil prices touching a six-month high. Crude was above 62 dollars a barrel in New York at one stage as stockpiles fell and refinery accidents in the United States threatened fuel supplies just as the summer driving season begins there. Mining stocks rose due to higher metals prices on the expectation of increased demand. Air France-KLM’s smaller than anticipated loss caused its shares to soar. The financial sector was mixed with some sell off by investors. Porsche gained three percent after the families who control the company said they were open to the idea of selling a stake to an outside investor. The dollar has fallen to its lowest level against the euro since January and declined against the British pound.More about: Economy, Markets

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