FTSE 100 higher led by oil shares

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Source: Dukascopy Bank
FTSE 100 index extended gains on Thursday on news Greece will finally conclude its debt swap agreement. Oil shares and miners provided the biggest upside contribution to the index. Petrofac Ltd rallied 3.7% after J.P. Morgan Cazenove raised stock's rating from neutral to overweight, citing regained confidence in 2013 earnings growth. Other crude providers also advanced on surging oil prices. BP PLC  gained 0.8% and Royal Dutch Shell PLC soared 1.6%. At the moment of writing FTSE 100 index trades 1.18% or 68.27 points higher at 5,859.68.

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Thu, 08 Mar 2012 16:53:24 GMT

DAX 30 climbs 1.7% on Greek debt swap

German DAX index rallied on Thursday as worries over Greek default disappeared. Heavyweight financials supported the index on upside with Deutsche Bank AG climbing 3.4% and Commerzbank AG adding 1.3%. BMW AG improved 1.3% after the auto maker posted a 51% increase in full-year profit and raised dividends. Deutsche Post AG led the gains after issuing an optimistic revenue predictions

Thu, 08 Mar 2012 16:30:05 GMT

Agriculture tumbled on improved harvest conditions in South America

Rural commodities fell on Wednesday ahead of USDA report on crop estimates due on Friday. Wheat posted loses as UN lifted its forecast on the global wheat crops to the second highest over the last decades. The estimations of the world's wheat harvest vary from 678 million tons to 682 million tons. Corn futures declined as China's rejected rumours that

Thu, 08 Mar 2012 16:05:10 GMT

Crude oil went up after IEA report

Energy markets were mostly higher on Wednesday amid broadly weaker US Dollar and smaller than expected increase in the US oil inventories. However, investors continued to eye events surrounding the Greek debt restructuring that will determine the future of the region. Brent and crude oils also tried to balance supply and demand concerns. Escalated tensions between Iran and Israel are

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