Stateside, major indexes closed higher on Thursday after stocks experienced their worst day of 2017. The Dow Jones industrial average gained 0.27 percent or 56.09 points to close at 20,663.02, the S&P 500 added 0.37 percent or 8.69 points to finish at 2,365.72 and the Nasdaq jumped 0.73 percent or 43.89 points to end at 6,055.13.
In corporate news, Japan’s Toshiba is back in the spotlight on news that state-backed fund Innovation Network Corp of Japan (INCJ) would sell a fifth of its shares in Renesas Electronics ahead of the sale of Toshiba’s chip unit. The move would add to the coffers of INCJ, which is expected by market watchers to bid for Toshiba’s memory chip unit.
The dollar index ticked upwards after tumbling from the 99 handle last week. The dollar last traded against a basket of rival currencies at 97.88. Dollar/yen also recovered to trade at 111.51, off the low of 110.51 seen in the previous session.
In energy news, oil prices rose after some producer countries indicated they would extend output cuts. Benchmark Brent crude added 30 cents to settle at $52.51 a barrel while U.S. crude gained 28 cents to settle at $49.35.