Twitter shares take wing, oil prices rebound

Twitter shares fly high subsequently Elon Musk bought a major stake in the company (AFP/Kirill KUDRYAVTSEV) (Kirill KUDRYAVTSEV)
  • Elon Musk
    South African–built-in American entrepreneur

Global stock markets pushed higher Monday and oil prices rose equally Western nations eyed more sanctions on Russia, just Twitter stood out equally its shares soared afterward Elon Musk purchased a large stake in the social network.

Twitter's stock soared more than than 25 percent after news of the Tesla chief's investment.

Co-ordinate to a document filed with the US Securities and Commutation Commission, Musk caused nearly 73.5 million Twitter shares -- a 9.2-percent stake in the company.

While Twitter is not big enough in terms of capitalization to impact the wider market place, Briefing.com analyst Patrick O'Hare said the move has bolstered sentiment.

"What the market is really responding to is the timing of Musk'south buy and the supposition that it is an encouraging bespeak that longer-term investment opportunities might be availing themselves now in one-time high-flying stocks," he said.

European stock markets closed with small-scale gains, while Wall Street too forged college.

The tech-rich Nasdaq had an especially buoyant session, climbing nearly two percent behind strong gains in Amazon, Apple and other tech giants.

Meanwhile, the European union said it is urgently discussing a new round of sanctions on Russia as it condemned "atrocities" reported in Ukrainian towns that have been occupied past Moscow'south troops.

And White House National Security Advisor Jake Sullivan signaled more United states of america sanctions also could be appear this week.

Merely that did not seem to rattle investors who are watching the Federal Reserve for more clues near its interest rate hikes especially following some other solid employment report.

"Even fresh sanctions talk does not appear to exist having much of an consequence, equally the market learns to look past the immediate hit to earnings," said analyst Chris Beauchamp at online trading platform IG.

"The strength of Fri'south payrolls report remains a motivating cistron too, even if information technology has also emboldened Fed policy makers to call up more seriously nigh a 50 basis betoken hike next time they meet," he added.

The globe's summit economy added 431,000 jobs in March while the US unemployment rate brutal to only slightly above pre-pandemic levels, official data showed Friday.

Oil prices rallied after falling last calendar week on concerns nigh demand given Covid lockdowns in Mainland china and afterwards the 31-nation International Energy Agency agreed to tap its vast reserves to offset the hit from the drop in Russian exports due to sanctions.

"Oil prices accept rebounded after last week's large falls with U.s. prices recovering dorsum to a higher place $100 a barrel, in the wake of renewed calls for farther sanctions against Russian oil and gas imports," said market analyst Michael Hewson at CMC Markets.

"This appears to be outweighing concerns over Chinese demand after the whole of Shanghai, a city of 25 1000000 people, was put into a Covid lockdown," he added.

- Key figures around 2115 GMT -

New York - Dow: UP 0.3 percent at 34,921.88 (shut)

New York - Southward&P 500: UP 0.8 pct at four,582.64 (shut)

New York - Nasdaq: Upward i.9 percent at 14,532.55 (close)

London - FTSE 100: UP 0.iii percent at 7,558.92 (close)

Frankfurt - DAX: UP 0.5 at fourteen,518.xvi (close)

Paris - CAC forty: UP 0.7 pct at 6,731.37 (close)

EURO STOXX 50: UP 0.8 percent at 3,951.12 (close)

Tokyo - Nikkei 225: Upward 0.3 percent at 27,736.47 (shut)

Hong Kong - Hang Seng Index: Upward 2.1 pct at 22,502.31 (close)

Shanghai - Composite: Closed for a holiday

Brent North Bounding main crude: Upwardly 3.0 percent at $107.53 per barrel

West Texas Intermediate: UP 4.0 percent at $103.28 per barrel

Euro/dollar: DOWN at $i.0978 from $ane.1043 late Friday

Pound/dollar: FLAT at $1.3114

Euro/pound: Down at 83.65 pence from 84.21 pence

Dollar/yen: UP at 122.78 yen from 122.52 yen

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