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Greek stocks are star performers as tensions ease and oil prices rise

Rising oil prices, an easing of tensions over Greece and further central bank policy accommodation provided the backdrop to a strong performance for US and European equities yesterday. Brent crude was up a further 2.9% at $56.34 a barrel, putting it on track for the highest close since the first day of the year and a fourth successive advance. The international oil benchmark has now rallied nearly 25% from a five-year low of $45.19 in the middle of January. Energy stocks were big gainers in equity markets yesterday, closely followed by miners as industrial metals prices gained ground. By midday in New York, the S&P 500 was up 0.5% at 2,031 while the FTSE Eurofirst 300 ended 0.8% higher.

 

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