Global markets rise on optimism over oil, Greece

Global optimism lifted equity markets today, fuelled by oil breaking through USD 50 and a debt deal for Greece, but gains were curtailed by profit-taking pending G7 developments and any hints on the next US rate move.
"The fresh leg higher in oil we saw overnight, with (Brent oil) breaking above USD 50 a barrel for the first time since October 2015, has only served to provide more fuel to the rally," XTB brokerage analyst David Cheetham told AFP.
In Europe, Frankfurt, London and Paris extended Wednesday's gains that were won on the back of Greece news, bright German data, easing Brexit concerns and firmer oil prices.

But Madrid was weighed down by a crash in Banco Popular shares, which lost more than a fifth of their value after the bank asked shareholders to stump up more cash to clear up its balance sheet.
Wall Street followed Europe, opening a touch higher.
Rising oil prices boost the profits, revenues and share prices of energy companies and Asian stock markets were first to feel the benefit, with energy stocks in Europe and the US also attracting strong buying interest.

"Global markets have been fairly perky this Thursday...It is hard to pinpoint any singular reason behind the mild gains," Spreadex analyst Connor Campbell said.

The markets were seeing "one of those quietly solid days where not a lot happens and investors are fine with that, consolidating the highs hit on Wednesday," he told AFP.
The weaker dollar also provided a shot in the arm to many commodities, in turn lifting the resources sector. The faltering greenback makes dollar-denominated commodities cheaper for buyers using stronger currencies, stimulating demand and prices.
In London, mining giants Glencore and BHP Billiton topped the gainers board, both rising around three percent, with peers Antofagasta and Anglo American not far behind.
"A slight backtracking of the US dollar has helped a rally across commodities and a positive read-across to UK mining shares," said CMC Markets analyst Jasper Lawler.

The faltering greenback makes dollar-denominated commodities cheaper for buyers using stronger currencies, stimulating demand and prices.
Markets are now eyeing Group of Seven summit talks, which kicked off today in Japan.