BREAKING NEWS

BREAKING NEWS

Markets rebound as concerns ease over China's economy

Now Reading:

Markets rebound as concerns ease over China's economy

Text size Aa Aa

Britain’s top equity index the FTSE 100 ended flat as easing concerns over China’s economy helped to offset the impact of falling oil prices.

A stronger US dollar and a persistent global overhang of physical oil pushed crude prices lower on Thursday with Brent falling below 50 dollars a barrel down 1.2 percent.

Energy companies took the most off the index, with Royal Dutch Shell and BG Group closing down 3 and 1.8 percent respectively.

But stock markets in Asia and Europe bounced back, Frankfurt was up close to 1 percent, Paris gained 1.25 percent.

“They’re taking the Chinese central bank at its word, but I’m still taking those comments with a pinch of salt,” said one analyst.

Political turmoil in Turkey was reflected in a 1.39 percent drop in Istanbul one of the few indexes to close at a loss.