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GLOBAL MARKETS-Oil resumes rise, euro recovers after slide
February 5, 2015 / 3:43 PM / 3 years ago

GLOBAL MARKETS-Oil resumes rise, euro recovers after slide

* Wall St rises after data, Europe still down
    * Euro regains some ground after sharp drop
    * Oil steadies after dropping 9 pct overnight

 (Updates with open of U.S. trading, changes byline and
dateline, previously LONDON)
    By Ryan Vlastelica
    NEW YORK, Feb 5 (Reuters) - Stock markets around the world
were mostly higher on Thursday, lifted as crude oil resumed its
recent rise, but investors digested the European Central Bank's
surprise decision to strike Greek bonds off its list of accepted
    While U.S. equities rose on the day, with energy shares
among the biggest gainers, the pan-European FTSEurofirst
 share index fell 0.4 percent. The MSCI International
ACWI Price Index rose 0.4 percent.
    The ECB move increases the pressure on Greece to put new
reforms in place. Greek bank shares plunged over 20 percent
, and the country's short-term debt yields surged to
almost 20 percent. Both pared their losses,
leaving bank stocks down just 7 percent..
    The euro tumbled overnight but recovered on Thursday, rising
0.7 percent against the dollar. The common currency was
helped by the strongest rise in German industrial orders since
early 2008. 
    The U.S. Dollar index dipped 0.1 percent against a
basket of currencies. The yen fell 0.2 percent against the
    U.S. crude futures rose 3.1 percent to $49.93 per
barrel, resuming its recent uptrend after falling in the
previous session, and continuing to demonstrate the commodity's
volatility. Oil has risen in five of the past six sessions, and
in 2015 has only had four sessions with a move smaller than 1
percent. Despite the recent rise, oil remains down more than 50
percent from a high reached in June.
    "It will be some time yet before we see any sustained trend
reversal in oil prices," said Carsten Fritsch, an analyst at
Commerzbank. "There's no basis for a sustained recovery at the
    Wall Street was also boosted by encouraging jobless claims
data, which came a day before Friday's non-farm payrolls
    "Employment continues to improve at a fairly moderate pace,
which feels breakneck compared to the past, which means people
are getting jobs and that is a big positive for the economy,"
said David Heidel, regional investment strategist at U.S. Bank
Wealth Management in Minneapolis.
    "The problem is every time we get confirmation that the jobs
picture is improving, it also sparks worries the Federal Reserve
will act sooner (rather) than later to raise rates and continues
this schizophrenic up and down," Heidel said.
    The Dow Jones industrial average rose 117.49 points,
or 0.66 percent, to 17,790.51, the S&P 500 gained 13.81
points, or 0.68 percent, to 2,055.32 and the Nasdaq Composite
 added 28.51 points, or 0.6 percent, to 4,745.21.
    The benchmark 10-year U.S. Treasury note fell
3/32 in price, pushing the yield up 1.8084 percent.
    Gold prices fell 0.8 percent. Silver lost 1.7
percent and copper fell 1 percent.

 (Additional reporting by Chuck Mikolajczak; Editing by Jonathan

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