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Stocks rebound after days of losses as Brent is hit by volatile trading

Global equities rebounded yesterday after several days of hefty losses, despite a further fall in oil prices and concern over eurozone deflation. Growing expectations of action by the European Central Bank provided support to equities on both sides of the Atlantic, and by midday in New York the S&P 500 was up 1.2% at 2,025 after falling 4.2% over the previous five sessions. The FTSE Eurofirst 300 rose 0.5%. Sterling fell 0.5% against the dollar as the markets pushed back expectations for the timing of a UK interest rate rise.

 

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