Global Markets Rise as Oil Prices Eases Tensions
The global stock market is mostly higher on Tuesday after a rally on Wall Street. The rally was fueled by easing oil prices, which saw benchmark U.S. crude rise to $80.49 a barrel and Brent crude jump to $84.75.
In Europe, France's CAC 40 added 0.3% in early trading to 8,643.50, while the German DAX surged 0.9% to 26,232.04. Britain's FTSE 100 edged up nearly 0.4% to 10,897.75.
The U.S.-Japan currency intervention, which occurred last week, is still being weighed by regional investors. Analysts note that the effectiveness of such an intervention remains uncertain as it doesn't address the fundamental economic reasons behind the currency fluctuations, including inflation, interest rates and the relative strengths of the economies.
Matthew Ryan, head of market strategy at global financial services firm Ebury, said: 'This is an historic and meaningful development for the yen, which materially improves confidence in our mildly bullish call for the currency.'