Asian markets...

Energy firms across the region were higher, recovering some of Thursday’s losses, after oil prices jumped on the back of data showing US stockpiles fell last week. Forecasts had been for a rise.

The news sent crude sharply higher on Thursday as it eased worries about a pick-up in US production, which was threatening to negate the output cap by OPEC and Russia. Both main oil contracts continued to rise in Asia.

“The market’s been concerned about US production ramping, so as long as you still have these healthy inventory reports, it helps ease some of the fears,” Craig Bethune, a senior portfolio manager at Manulife Asset Management, said.

On forex markets the dollar climbed against the euro, recovering some losses after European Central Bank minutes showed a cautious move towards an exit from crisis-era stimulus.

The broadly positive sentiment also provided a platform for the greenback to rise against the yen, which is usually the go-to currency in times of turmoil.

In early European trade London and Paris each rose 0.1 percent, while Frankfurt put on 0.2 percent.

Foreign investors sold a net Rs.16.9 million worth of shares, but they have been net buyers of Rs.6.4 billion worth of equities so far this year.

Shares in Melstacrop Plc rose 3.8 percent and conglomerate John Keells Holdings Plc ended 0.6 percent higher. Dialog Axiata Plc gained 0.7 percent.