Global markets fend off bear attack with end of week rebound

Equity markets across the globe have staged a come-back after falling into a bear market earlier this week, boosted by hopes of further stimulus measures from the ECB and a 6% rise in oil prices.

The rebound was driven by yesterday's comments by European Central Bank president Mario Draghi that it would "review and possibly reconsider" its monetary policy stance at the organisation's next meeting. Markets took this as a hint the bank could boost its quantitative easing programme as early as March. Shares received a boost as brent crude prices jumped 6%, from lows below $28 to $29.54. The rise came after the chairman of Saudi Arabia's state oil company told the World Economic Forum in Davos the recent fall in oil prices to below $30 a barrel was "irrational" and prices should r...