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U.S. crude set for biggest weekly gain since August.

News Date: 24/12/2015 09:42:15
 

U.S. West Texas Intermediary (WTI) crude futures extended their pre-Christmas rally, rising 50 cents, or 1.40% to $38.03 a barrel, and heading for a massive weekly gain of 9.50%, the biggest since August. Brent crude futures rose 36 cents, or 1.0% to $37.77 a barrel, with a more modest weekly gain of 2.40%, the biggest in five weeks.

 

European shares were largely flat, as trading volumes trended thinner because of the holiday. The pan-European FTSEurofirst index slipped 0.04% to 1,440. France's CAC closed down 7 points, or 0.14% to 4,667. Spain's IBEX rose 0.57%. Britain's FTSE gained 20 points, or 0.31% to 6,260; buoyed by commodity companies; as Royal Dutch shell advanced 1.56%, Anglo American rose 1.45%. Germany's DAX was closed today.

 

Dollar slid, with its index down 0.33% for the day, and 0.69% for the week. It tumbled to a week-low against sterling at 1.4934. Dollar dipped to a 7-week trough against the yen at 120.26, down half a percent for the day, and 0.70% for the week. It lost 0.30% against the euro to 1.0944.

 

Wall Street opened largely flat, with Dow Jones down 10 points, or 0.06% to 17,591. NASDAQ added 3 points, or 0.07% to 5,048. S&P 500 slipped a point, or 0.06% to 2,062.

 

Canadian dollar rose for the third consecutive session against the U.S. dollar, up 0.14% at C$1.3832. Australian dollar jumped to an eight-day high to $0.7269.

 

Gold trended higher, with the futures gaining $6.40, or 0.60% to $1,074 an ounce. Silver futures tagged along, adding six cents, or 0.40% to $14.35 an ounce.   

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