Global Stocks Mostly Edge Up After Oil Price Rally

By Christopher Whittall 

Global stocks mostly edged higher Thursday following a sharp rally in oil prices propelled higher by an unexpected decline in U.S. crude stockpiles Wednesday.

The Stoxx Europe 600 was up 0.3% in early trade, led higher by energy and health-care stocks. Brent crude was recently flat on the day at $39.85 a barrel, after a 5% rise Wednesday helped Wall Street snap a two-day losing streak. Health-care stocks, after lagging for most of this year, were also among the largest gainers after Pfizer and Allergan terminated their planned $150 billion merger.

The moves came following the release of minutes from the Federal's Reserve's March policy meeting Wednesday that showed officials were unlikely to raise interest rates in April. Low interest rates have supported stock markets in recent years.

Chinese stocks fell Thursday, with the Shanghai Composite Index ending down 1.4% amid concerns about the expiration of restrictions on large shareholders selling domestic stocks. Stocks elsewhere in Asia were little changed, with the Nikkei Stock Average gaining 0.2% despite the yen surging against the dollar--a move that tends to dent Japanese stocks.

--Chao Deng contributed to this article.

Write to Christopher Whittall at [e-mail]

(END) Dow Jones Newswires

April 07, 2016 04:27 ET (08:27 GMT)

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