The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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Analyst:' Equity markets are experiencing a bit of a bounce'. U.K. stocks finished sharply higher Friday, helped by a rally for the energy sector as oil prices gained, with the advance flipping the FTSE 100 benchmark into the green for the week. The FTSE 100 jumped 1.7% to close at 7,682.27, after dropping 0.9% Thursday.
By Carla Mozee and Victor Reklaitis, MarketWatch. Stocks across Europe closed higher Friday, aided by data showing business activity picked up in the eurozone after a slowdown. Also helping sentiment was a eurozone agreement on a debt-relief plan for Greece after the country's bailout ends, and the energy sector got a lift from a rally for oil prices.
Legacy media companies are in a mad race for scale as they strive to keep up with aggressive competitors in Silicon Valley. Even if the incumbents bulk up, tech companies like Netflix, Amazon, and Apple will still have more leeway to spend. That not only means they can lure top talent away from Hollywood, but that they are driving up the cost of talent for the traditional studios.
Automakers lead losses in Japan; Shanghai index salvages a small gain but teeters near bear-market territory. Asian markets recovered broad early losses to close mixed Friday. The region initially took its cues from weaker U.S. action Thursday, as the Dow posted its eighth straight decline and trade tensions between the U.S. and China remained high.