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Index Nikkei is growing against the weak yen and the OPEC decision. European shares are” in the green”

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Index Nikkei is growing against the weak yen and the OPEC decision. European shares are” in the green”

Index Nikkei is growing against the weak yen and the OPEC decision. European shares are” in the green”
September 29
14:30 2016

The most important index of Japan Nikkei demonstrates the strengthening by more than 1 percent on Thursday morning due to the fact that investors are encouraged by a rather weak position of the Japanese currency, which has sagged after the sudden news about the consensus among the OPEC countries on the production cut.

Nikkei has risen by 1.4 percent, amounting to 16.693,71 points.

Topix index has risen by 0.9 percent and amounted to 1.343,25 points at the close of the session.

JPX-Nikkei 400 has grown by 1 percent and amounted to 12.024,04 points.

Members of the Organization of Petroleum Exporting Countries (OPEC) have decided to establish the oil production limit at the level of 32.50 million barrels per day at an informal meeting of Algeria. According to Reuters, the restriction comes into force in November 2016. Currently, the cartel produces 33.24 million barrels of oil per day.

The stock market in Europe began to go up at the start of Thursday’s session; herewith the energy sector shares have risen after the jump in oil prices due to the OPEC’s decision to limit the production.

The index of oil and gas in Europe has increased by more than 4 percent and it is going to finish the session with the best result for 3 months. Shares of Tullow Oil have risen by more than 10 percent and the papers of large companies as Royal Dutch Shell, Total and BP have increased by about 4-5 percent.

The pan-European index STOXX 600 has increased by 0.9 percent.

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