European, US stocks hover near record highs on Covid recovery hopes – business live

SourceThe Guardian
SectorFinancial Markets
CountryMiddle east

Rolling coverage of the latest economic and financial news as Covid recovery hopes lift stocks, including across the FTSE 250 and German Dax 12.49pm BST The pub chain Marston’s is among the raft of pubs and restaurants gearing up for outdoor service as Covid restrictions are ease further in England on 12 April. The company confirmed this morning that it expects to reopen around 70% (around 700) of its managed and franchised pubs in England with outdoor spaces on or around 12 April and, 12.30pm BST Oil prices have been see-sawing throughout the trading session, but seem to have steadied. Brent crude prices are now trading higher by around 0.8% at $63.28 per barrel, while WTI is up 0.7% at $59.76.The whipsaw effect remains in the full-blow as liquidity is still low across all markets post-Easter, which may be exaggerating moves and keeping active oil investors sidelined...I still feel oil traders may find comfort-buying dips [in prices] knowing OPEC+ will closely monitor macro conditions via monthly meetings on the flip side of the coin. There should be little doubt the group will step in to put a floor on the oil price, [if] macro conditions deteriorate.

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