(MENAFN- Saudi Press Agency)
LONDON Rajab 12 1437 April 19 2016 SPA -- European stock markets are tracking their Asian counterparts higher as oil prices recouped losses they recorded in the wake of the failure of oil-rich nations to cap production AP reported.
Among Europe's main indexes Germany's DAX was trading 1.3 percent higher at 10253 while Britain's FTSE 100 rose 0.8 percent to 6406.
The gains in Europe came after a strong session in Asia. Japan's Nikkei led the advance as it notched up a 3.7 percent to close at 16874.44.
The improving sentiment in stock markets has been helped by the rally in oil prices following an initial decline of about 7 percent in the wake of Sunday's failure by oil-producing nations to announce a production cap. A barrel of benchmark New York crude was up 67 cents at $40.45.
--SPA
11:29 LOCAL TIME 08:29 GMT
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