Global stock markets are rallying, following heavy losses in Europe yesterday.
- UK’s FTSE 100 up 156 points, or 2.37%, at 6740.82
- Dow Jones up 0.54% at 23,265.77
- S&P 500 up 0.35% at 2497.59
- Nasdaq up 0.2% at 6592.812
- Germany’s Dax up 1.71% at 10,558.96
- France’s CAC up 1.86% at 4684.23
Oil prices rose more than $1 a barrel first thing this morning, but have given up most of their gains. Brent crude is 0.19% ahead at $52.26 a barrel after rising over 3% earlier. US light crude is only 0.4% ahead at $45.01 a barrel, after gaining 3.6% earlier. Oil prices hit their lowest level in almost 18 months this week and are down more than 20% for the year so far.
The dollar remains weak after a drop in US consumer confidence. Both the euro and the pound are up about 0.3% against the greenback.
Gold, a popular safe-haven asset in volatile times, has hit a six-month high of $1.282 an ounce.
The main UK business story is that HMV is about to appoint administrators for the second time in six years, putting more than 2,200 jobs at risk.
With this, we are closing the business live blog for the day. Good-bye – we’ll be back next week.
The Dow Jones and Nasdaq have given up some of their gains and are just 0.2% ahead now.
More than one million readers have now supported our independent, investigative journalism through contributions, membership or subscriptions. We want to thank you for all of your support. But we have to maintain and build on that support for every year to come.
The Guardian is editorially independent – our journalism is free from commercial bias and not influenced by billionaire owners, politicians or shareholders. No one edits our editor. No one steers our opinion.
If everyone who reads our reporting, who likes it, helps to support it, our future would be much more secure.