European stocks jump to 2-week high as oil rallies

European stock markets logged broad-based gains on Monday, as a rally in oil prices and some metals prices calmed investor nerves after the recent commodity rout.

The Stoxx Europe 600 index jumped 1.6% to 331.72, setting it on track for the highest closing level since early February.

Elsewhere, Germany’s DAX 30 index rose 2% to 9,576.33, while France’s CAC 40 index %  gained 1.8% to 4,298.08.

The jump in oil prices help lift European energy companies. Shares of Tullow Oil PLC gained 5.4%, Seadrill Ltd. climbed 3.1%, and heavyweight Total SA added 1.6%.

Source: MarketWatch

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Asian Stocks Fall From 2-Week High as U.S. Earnings Disappoint

Asian stocks fell, with the regional benchmark index retreating from a two-week high, as technology-related shares declined after companies including Apple Inc. and Microsoft Corp. reported disappointing results.

The MSCI Asia Pacific Index fell 0.5 percent to 144.56 as of 9:08 a.m. in Tokyo. U.S. equity-index futures slipped as Apple tumbled more than 6 percent in extended U.S. trading after missing analysts’ estimates for revenue and iPhone shipments. Microsoft fell 4 percent on its record net loss.

Japan Topix index fell 0.9 percent. South Korea Kospi index slid 0.5 percent. Australia S&P/ASX 200 Index dipped 0.9 percent, while New Zealand NZX 50 Index added 0.4 percent. Markets in China and Hong Kong have yet to open.

The Shanghai Composite Index advanced for a fourth day on Tuesday, finishing above 4,000 for the first time since July 1 and capping its longest stretch of gains since May. Smaller companies extended a bull-market rally and speculation grew the government’s market-support measures have contained excessive price swings.

Source : Bloomberg

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