LONDON: Oil prices bounced back from multi-week lows on Monday, hauling up European stock markets and commodity-linked currencies, on hints that producers were close to reaching an output deal. A firmer oil price bolstered energy company shares, helping European stocks climb after two straight weeks of losses. The pan-European 600 index, which had fallen to a six-week low on Friday, rose 0.7 per cent, with the STOXX Europe 600 Oil & Gas index advancing 0.8 per cent. It also helped lift emerging market stocks around 1.5 per cent, and commodity-linked currencies including the Canadian, Australian and New Zealand dollars , which were all around half a per cent higher. Shanghai put on 0.5 per cent, while Taiwan jumped 2.8 per cent after a string of losses.

Source: Economic Times September 19, 2016 03:33 UTC