Markets rebound as concerns ease over China's economy

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Markets rebound as concerns ease over China's economy

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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.