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Stock Markets Smash Records in Oil-Fueled Rally

New York (January 05,2018): World stock markets went on another record-smashing run Thursday fueled by a bright economic outlook and strong oil prices, with Wall Street’s Dow index powering past 25,000 for the first time and London also reaching a new record peak.

“It’s onwards and upwards for global stock markets,” said Lee Wild, head of equity strategy at online stockbroker Interactive Investor.“With economic data underpinning forecasts for strong global growth in 2018, traders are happy to keep buying risk assets.”

The Dow quickly shot past 25,000 soon after the opening bell — and pushed as high as 25,105.96 before retreating a bit — as strong US private-sector hiring data sparked an extension of the stocks rally seen in the wake of last month’s US tax reform.The blue-chip index ended at 25,075.13, up 0.6 percent.

Key figures around 0240 PST:

New York

DOW: UP 0.6 percent at 25,075.13 (close)

S&P 500: UP 0.4 percent at 2,723.99 (close)

Nasdaq: UP 0.2 percent at 7,077.91 (close)

London

FTSE 100: UP 0.3 percent at 7,695.88 points (close)

Frankfurt

DAX 30: UP 1.5 percent at 13,167.89 (close)

Paris

CAC 40: UP 1.6 percent at 5,413.69 (close)

EURO STOXX 50: UP 1.7 percent at 3,563.83

Tokyo

Nikkei 225: UP 3.3 percent at 23,326.06 (close)

Hong Kong

Hang Seng: UP 0.6 percent at 30,736.48 (close)

Shanghai
Composite: UP 0.5 percent at 3,385.71 (close)

Currencies

Euro/dollar: UP at $1.2070 from $1.2014 late on Wednesday

Pound/dollar: UP at $1.3553 from $1.3515

Dollar/yen: UP at 112.72 yen from 112.52 yen

Energy

Oil – Brent North Sea: UP 38 cents at $62.01 per barrel

Oil – West Texas Intermediate: UP 23 cents at $68.07 per barrel

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