Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on U.S. jobs and gains for a range of commodities whetted risk appetites globally. Japan's Nikkei .N225 was up 0.3 percent, following a 4-percent jump the previous session.
Notably, oil shrugged off record high U.S. crude stockpiles as investors chose to focus on an OPEC plan to freeze production, keeping alive talk the market had bottomed from a near two-year selloff. [O/R]
Energy and bank stocks had led Wall Street higher on Wednesday, giving the Dow .DJI a gain of 0.2 percent. The S&P 500 .SPX added 0.41 percent and the Nasdaq .IXIC 0.29 percent.
- Equities in the US edged higher on Wednesday following Tuesday's bumper gain.
The DJIA added 0.20%, the S&P 500 put on 0.41% and the NASDAQ gained 0.29%
In mainland Europe, stock markets gained for a fifth consecutive day. The DAX gained 0.61%, the CAC 40 put on 0.41% however in the UK the FTSE 100 gave up 0.09%
The banking sector was the major benefactor (+3.4%) following ECB comments that they are aware of the pressure on banks due to ultra-low interest rates.
Mining stocks also continued to march higher on the back of stronger commodity prices.
Reference: Reuters, MKS Group
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