Global markets: US, European stocks climb on hopes of halt in rate hike

The S&P 500 gained 1.33% at 4,145.91 points. The Dow Jones Industrial Average rose 1.14% at 34,029.04. The Nasdaq Composite surged 1.99%, at 12,166.27.

A separate report showed that slightly more workers applied for jobless benefits last week than expected.

The US dollar fell to 132.77 Japanese yen from 133.19 yen. The dollar rose to 1.1046 euro from 1.0995.

European shares

European shares rose on Thursday, led by luxury stocks. The pan-European STOXX 600 rose 0.4%, and the blue-chip index gained 0.5%.

Britain’s FTSE 100 rose 0.3%, as data showed that the UK economy unexpectedly stalled in February.

In France, the benchmark CAC 40 climbed to a record high, rising 1.2%, boosted by LVMH.

LVMH stock surged 5.7%, closing at a record high after the company reported a 17% jump in first quarter sales.

Shares of Hermes also touched a record high, jumping 3.2%.

Copenhagen’s OMX 20 also hit an all-time high.

Germany’s DAX added 0.2% at 15,729.46.

Asian markets

Asian stocks closed mixed on Thursday.

Hong Kong’s Hang Seng index added 0.2% at 20,344.48. In China, Shanghai Composite index lost 0.3% at 3,318.36. South Korean benchmark Kospi rose 0.43% to end at 2,561.66.

Japan’s Nikkei 225 rose 0.3% at 28,156.97.

Australia’s S&P/ASX 200 index slipped 0.3% at 7,324.10, dragged down by mining and banking stocks. New Zealand’s benchmark S&P/NZX 50 index rose 0.1% at 11,930.86. 

Crude oil

Oil prices dipped as OPEC, in a monthly report, said that it still expects global demand for crude to grow by 2.3 million barrels per day this year. Brent crude for June delivery fell $1.24 to $86.09 a barrel on Thursday. Benchmark US crude oil for May delivery fell $1.10 to $82.16 a barrel.

Bullion

Gold for June delivery gained $30.40 to $2,055.30 an ounce. Silver for May delivery up 47 cents to $25.93 an ounce.