Global Stocks Rally

Global stocks rallied Friday following the release of minutes from the U.S. Federal Reserve's September meeting Thursday that further reduced investor expectations for a U.S. interest rate rise this year.

The Stoxx Europe 600 was up 0.8% in early trade following gains on Wall Street Thursday.

Germany's DAX rose 0.9%. France's CAC 40 was up 0.8%. The FTSE 100 climbed 0.6%.

U.S. stocks closed higher Thursday after minutes of the Federal Reserve's September meeting showed central bank policy makers decided against raising rates amid worries that inflation would remain stuck at ultralow levels. Low interest rates in the U.S. have buoyed stock markets over the past several years.

Asian shares joined in the rally on Friday on hopes for an extended period of easy monetary policy. Hong Kong's Hang Seng Index was up 0.8%, while Japan's Nikkei 225 was up 1.6%, nearing its highest level in almost a month. Australia's S&P ASX 200 was up over 1%, a seven-week high.

Meanwhile, energy stocks gained as oil prices advanced. Brent crude oil prices were last up 1.0% at $53.93 a barrel, propelled by a weaker dollar, trader expectations of shrinking U.S. production and concerns about Russia's involvement in Syria.

In corporate news, shares of commodities trader Glencore PLC were up over 5% in Europe after the firm said it would cut global zinc production following a collapse in the metal's price.

Investors in the U.S. will reflect on disappointing earnings from aluminum giant Alcoa Inc., which unofficially kicked off the third-quarter earnings season by reporting a sharp drop in profit Thursday.

In currencies, the euro rose 0.2% against the dollar to $1.1306. The dollar rose 0.2% against the yen. The dollar had initially weakened after the release of the Federal Reserve minutes.

Gold was up 0.1% at $1145.50 a troy ounce.

The yield on 10-year U.S. Treasurys was flat at 2.098%. Yields rise as prices fall.

Write to Riva Gold at [e-mail]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

October 09, 2015 05:05 ET (09:05 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.