Oil futures rose for a second day on Thursday amid investor optimism over unconfirmed reports of possible advances in combating the coronavirus outbreak in China which could cause fuel demand to rebound in the world's biggest oil importer.
China on Thursday said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 deal that brought a truce to a bruising trade war between the world's two largest economies.
China is likely considering using a disaster-related clause in its Phase 1 trade deal with the United States due to the coronavirus outbreak that has killed more than 500 and infected tens of thousands, the Global Times reported on Thursday.
Italy's biggest bank by assets UniCredit took a further step on Wednesday in a strategy to streamline its structure, announcing the placement of a 12% stake in Turkish bank Yapi Kredi .
Toyota Motor Corp raised its annual operating profit forecast by 4.2% on favorable currency rates and better-than-expected vehicle sales, but added that the impact of the new coronavirus was difficult to gauge and not yet been factored in.
Global stocks extended their recovery on Thursday, cheered by record closes in Wall Street benchmarks following encouraging economic data, and after China announced a cut in tariffs on some imported goods from the United States.
Norway's Equinor reported a smaller-than-expected drop in fourth-quarter core operating profits on Thursday as the startup of a major new oilfield partly mitigated the impact from weak European gas markets.
Sweden's Volvo Car Group, owned by China's Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.
China on Thursday said it would halve additional tariffs levied against 1,717 U.S. goods last year, following the signing of a Phase 1 trade deal that brought a truce to a bruising trade war between the world's two largest economies.
Finnish telecom network equipment maker Nokia reported on Thursday a surprise rise in October-December underlying profit, driven by cost cuts, and said most of its 2020 profit will be generated in the fourth quarter.
Sanofi on Thursday said it was expecting earnings per share to grow around 5 percent at constant exchange rates in 2020, weeks after pledging to focus on vaccines and key treatments like its eczema medicine Dupixent until 2022.
Toyota Motor Corp on Thursday raised its forecast for annual operating profit by 4.2% due to a slightly weaker yen, while it also expects to sell more vehicles than an earlier estimate.
Asian stocks edged up on Thursday, cheered by record closes in Wall Street benchmarks after encouraging economic data, and after China announced a cut in tariffs on some imported goods from the United States.
Total beat forecasts on Thursday by keeping net adjusted profit for the fourth quarter steady at $3.2 billion and fulfilled its pledge to boost dividends despite low oil prices, lifting the French energy major's shares by 3%.
Japan's Mitsubishi Aircraft Corp said on Thursday it will delay the first delivery of its SpaceJet regional jet for at least another year until after March 2021.