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China deal sends shares to one-month high, ruble surges
World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China's $3.9 trillion stock market and more gains in U.S. equities.
Brent oil futures sink to 4-year low amid global supply glut
Brent oil futures sank to the lowest level in more than four years on Tuesday, as ongoing concerns over a glut in world markets continued to drive prices lower. Prices recovered to last trade at $82.36 a barrel during European morning hours, down 59 cents, or 0.71%.
Russia Cash Squeeze Gets First Test Today in Loan Auction
Russian policy makers' latest bid to shore up the nation's currency sounds complex but is actually simple: They will take rubles out of the hands of banks.
Fewer rubles means bankers will have less cash to buy dollars. That in turn will stem the selloff in the ruble. Or so goes the argument. On day one, the plan -- or at least the unveiling of the plan -- worked. The ruble surged 1.7 percent yesterday to 45.8525 per dollar, rebounding from a record low even as policy makers simultaneously took other steps to allow it to trade freely.
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