Stocks Recover At End Of Volatile Week

LONDON, (UrduPoint / Pakistan Point News - 19th May, 2017 ) : European stock markets rebounded Friday, making good some of the heavy losses sustained earlier this week in the wake of the long-running controversy surrounding US President Donald Trump's contacts with Russia.

Around 1335 GMT, London's benchmark FTSE 100 index was up 0.4 percent compared with Thursday's close. In the eurozone, Frankfurt's DAX 30 won 0.2 percent and the Paris CAC 40 gained 0.6 percent.

The Dollar fell against its main rivals, while oil prices climbed above $50 per barrel ahead of next week's OPEC meeting that markets expect to result in the cartel at least sticking by a recent deal to cut crude output.

Oil traders were following closely the presidential election in Iran, one of the world's biggest crude producers and a key member of the Organization of Petroleum Exporting Countries (OPEC). "Equity indices are holding their rebound gains, albeit treading water since the European open, as investors weigh up recent market moves.

Whilst not electing to take on more risk before the weekend, nor are they taking any more off the table," said Mike van Dulken, analyst at Accendo Markets.