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Markets: 9th November

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Markets: 9th November

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European shares finished up for a fourth straight session at a two-week high, boosted by G20 finance ministers and central bankers pledging to continue stimulus effort until the recovery is assured.

Commodity companies were supported by stronger crude and metals prices. Oil rose three percent as tropical storm Ida threatens Gulf of Mexico crude output. Europe’s largest insurer Allianz jumped after it posted a forecast-beating rise in third-quarter profit. With the dollar falling further, the euro extended its gains helped by the fact that German industrial output rose a higher-than-expected 2.7 percent in September from the previous month. The dollar’s decline pushed gold prices to a record high above $1,100 an ounce.