Stocks Rise With Oil on Prospect of OPEC Deal; Mexico Peso Jumps

10/10/16 Reuters

peso by Guanatos GwynStocks rose with oil amid optimism major crude producers will work to cut output and ease a supply glut. Mexico’s peso jumped on speculation Republican candidate Donald Trump’s performance in the second U.S. presidential debate wasn’t strong enough to boost his chances of winning.

Energy shares led gains in equities as crude jumped to a one-year high after Saudi Arabia said other oil exporters have expressed their readiness to cooperate on a deal and President Vladimir Putin affirmed that Russia would back an accord. Currencies of commodity-led nations rallied as the peso advanced the most among major peers, jumping almost 2 percent.

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