Global stock markets have risen, a day after billions were wiped off the value of shares amid global market turmoil.
In the US, the Dow Jones was up 123.96 points, or 0.8%, at 15,7890.70 in early trade.
European markets were also higher, and shares in the US were up shortly after trading began.
However, investors remain worried over the continuing slide in oil prices and slowing growth in China.
London’s FTSE 100 index, which measures the share prices of the 100 most valuable companies traded on the London Stock Exchange, was up nearly 1.5%.
The index rose 83.10 points to 5,756.68, and the share indexes in France and Germany were both up by more than 1.5%.
Much earlier, Japan’s main share index closed down by more than 2%.
On January 20, global stock markets suffered hefty losses and London’s FTSE 100 ended the day down 3.5%.
By doing so it entered a “bear market”, having fallen 20% from its record high in April 2015.
Oil prices remained weak on January 21, having hit their lowest levels since 2003 in the previous session.
A brief rally in crude prices quickly ran out of steam, and after climbing back above the $28-a-barrel mark, Brent crude fell back to $27.75.
US crude was 1% lower on the day, trading at $28.09 a barrel, having fallen below $27 on January 20.
Crude oil prices have been falling since mid 2014, but oil-producing countries have maintained output despite the decline, contributing to the excess supplies on the market.
Earlier in the week, the International Energy Agency warned that oil markets could “drown in oversupply” in 2016.
Europe’s stock markets have opened slightly higher 24 hours after global turmoil saw billions wiped off the value of shares.
London’s benchmark FTSE 100 share index, which measures the share prices of the 100 most valuable companies traded on the London stock exchange, was up 0.5% in the opening minutes.
Earlier, Japan’s main share index closed down by more than 2%.
Investors remain worried over the continuing slide in oil prices and slowing growth in China.
On January 20, global stock markets suffered hefty losses and London’s FTSE 100 lost 3.5%.
It has now entered a “bear market”, having fallen 20% from its record high in April 2015.
In the first few minutes of trade on January 21, the FTSE 100 was up 31.78 points at 5,705.36.
Oil prices remained weak on January 21, having hit their lowest levels since 2003 in the previous session.
A brief rally in crude prices quickly ran out of steam, and after climbing back above the $28-a-barrel mark, Brent crude fell back to $27.79.
US crude was trading at $28.23 a barrel, having fallen below $27 on January 20.
Crude oil prices have been falling since mid 2014, but oil-producing countries have maintained output despite the decline, contributing to the excess supplies on the market.
Earlier in the week, the International Energy Agency warned that oil markets could “drown in oversupply” in 2016.
In Asia, Japan’s Nikkei 225 share index closed down 2.4%, while China’s Shanghai Composite ended the day down 3.2%.
On January 20, US shares had also been hit, with the Dow Jones closing 1.6% lower after a volatile trading day.
Global stock markets have tumbled with investors unsettled by the continued slide in oil prices and fears about the impact on global growth.
Germany’s Dax, the UK’s FTSE 100, and the Cac 40 in Paris were all down by about 3%, wiping out the gains recorded on January 19.
The drop in the FTSE puts it on the brink of a so called “bear market” – a 20% fall from April’s all-time high.
The falls came after Asian stocks closed sharply lower.
Dubai markets closed at a 28-month low, while in Japan shares fell to their lowest level since October 2014.
Top emerging market shares and currencies were also caught up in the turmoil, with the Russian ruble hitting a new record low of 80.295 against the dollar.
The downwards move came after oil prices continued to slide, with the price of international benchmark Brent Crude down 2.4% at $28.08 a barrel, around a 12-year low.
The oil price has plummeted 75% since mid-2014 as oversupply, mainly due to US shale oil flooding the market, has driven down the cost of the commodity.
At the same time, demand has fallen because of a slowdown in economic growth in China and Europe.
The world’s energy watchdog warned on January 19 that the market could “drown in oversupply”.
The International Energy Agency, which advises countries on energy policy, said it expected the global glut to last until at least late 2016.
The IMF’s decision on January 19 to downgrade its global growth forecast for this year and issue a warning about the outlook added to the dark mood among investors.
World stocks are now at their lowest levels since 2013, with the MSCI world equity index down 9.9% in January, its biggest drop since 2009.
Analysts said they expected the volatility to continue.
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