Global equities, oil prices gain as Suez Canal shutdown continues

Global equities, oil prices gain as Suez Canal shutdown continues

A quiet Regent Street in central London, where non-essential shops are temporarily closed during England's third coronavirus lockdown, on Friday. Associated Press Oil gained on Wednesday ahead of an expected extension to production curbs by Opec and its allies, with further support from industry data showing a larger European and Asian stocks unravelled Friday, resuming a midweek slump, with investors spooked by a ratcheting up of trade war clouds after US President Donald Trump announced tariffs on all Mexican imports. A broad index of stocks around the world edged higher on Thursday as comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest-rate cut, though concerns about global trade tensions capped gains. The Bank of England (BoE) called on lenders on Friday to provide enough credit to companies to see them through the coronavirus crisis as the government closes its emergency lending guarantee schemes. COVID-19 has brought new opportunities and challenges for the governments and markets to navigate within the coming quarters. GCC remain resilient with solid macroeconomic fundamentals amid opportunities The pan-European STOXX 600 index rose 0. 6%, with mining, automakers and oil & gas stocks gave the biggest boost, technology sector also rose.