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Euro zone inflation turns negative; oil shores up world stocks

News Date: 16/10/2015 09:52:54

 U.S. and European shares rose on Friday, led by energy companies. British FTSE 100 rose 30 points, or 0.47% to 6,368. Germany's DAX rose 25 points, or 0.26% to 10,090. France's CAC 40 rose 20 points, or 0.44% to 4,696.


U.S. indexes fared even better, with Dow Jones up 217 points, or 1.28% to 17,141. S&P 500 rose 30 points, or 1.49% to 2,023. NASDAQ was the biggest gainer, with a 1.82% rise to 4,870.


Crude oil rose as traders expect a deeper drop in U.S. production. Brent December futures rose half a dollar, or 0.97% to $50.21 a barrel. U.S. oil rose 80 cents, or 1.71% to $47.67 a barrel.


Euro zone inflation turned negative in September, with the CPI report posting a drop of 0.1% y\y. Core CPI rose 0.9%. the data puts more pressure on ECB to expand its already massive stimulus.


 Euro was down for the day, falling for the second day against the Dollar to 1.1366. Against Sterling it fell for the third session to 0.7355. Against Yen it was flat at 135.35.


U.S. industrial production for September fell an expected 0.2% m\m, smaller than August's 0.4% drop. Dollar was mostly flat, with the Dollar index unchanged at 94.47. Against Sterling it fell slightly to 1.5460. It rose for the second day against Yen to 119.02.


Spot gold fell $3.70, or 0.31% to $1,183.90 an ounce. Silver fell 3 cents to $16.13 an ounce.

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