FTSE 100 enjoys biggest weekly gain since 2009 as Fed unleashes $2.3tn stimulus - business live
(The Guardian Business News)

Rolling coverage of the latest economic and financial news as oil prices swing on production cut hopes and EU nears rescue deal`There´s no limit on length of support´, says Powell Oil prices surge after reports of big production cutsLATEST: Euro gains after Germany hints at recovery package deal Coronavirus - latest updatesSee all our coronavirus coverage 5.49pm BST Brent crude futures prices are now back up by 4% on the day, as hopes rise once more that a production cut will be forthcoming. 5.20pm BST The dance towards an oil production cut continues.Russia´s wealth fund head has told Reuters that Saudi Arabia and Russia have overcome their differences - but that it is very important that countries outside the Opec+ cartel (such as the US, Canada and Brazil) share the pain.OPEC, Russia and other allied producers, a grouping known as OPEC+, are considering cutting their oil output by more than 12m barrels per day and want other producers to contribute cuts of 5m, an OPEC+ source said on Thursday. Continue reading...