• Brent crude up 1.2%
• IMCD shares drop over 15%
• London markets partially closed on trading issue
Stocks around the world staged a modest rebound Friday, lifted by hopes of a robust package of stimulus measures from the European Central Bank and strong retail sales data in the U.S.
The Stoxx Europe 600 rose 0.7%, led by gains in its technology sector. In Asia, Hong Kong’s Hang Seng gained 1%, stocks in Shanghai rose 0.3% and Japan’s Nikkei edged up 0.1%.
U.S. stocks posted gains on Thursday after figures showed American consumer spending had remained strong in the face of global headwinds, countering manufacturing weakness.
Among the biggest gainers in Europe on Friday was
a Swiss telecom group, which gained 3.3% following reports on complications in its bid for a cable operator.
IMCD, a Dutch chemicals and food-ingredient distributor, lost 16% after its chief executive said challenges to global growth were weighing on earnings.
Some trading in London was closed on Friday morning, as the
London Stock Exchange
said the FTSE 100 and FTSE 250 indexes were delayed by a “potential trading services issue.”
The yield on 10-year Treasurys ticked up to 1.562% on Friday, from 1.534% on Thursday, marking a reversal from recent sessions. Bond yields and prices move in opposite directions.
The Argentine peso was steady on the dollar on Friday after strengthening on Thursday. A left-wing candidate fared unexpectedly well in primary elections in the country, and there were suggestions some investors believed a government led by
won’t be too radical.
The price of Brent crude rallied 1.2%, continuing weeks of volatility in energy markets as tensions in the Strait of Hormuz ratcheted up. The conflict in the region could be set to cool after Gibraltar released an Iranian tanker impounded in July, opening the door for Tehran to free a British-flagged vessel it seized.
Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com
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