Equities Turn Around on Renewed Middle East Hopes, Oil Pares Gains

GLOBAL MARKET - LONDON. MSCI's global equities gauge gained modestly on Thursday while the dollar lost ground and oil's rally narrowed, after Israel sought peace talks with Lebanon and renewed hopes for the fragile Gulf truce. 

Investor optimism about the prospects for Middle East peace returned late in the U.S. morning when Israeli Prime Minister Benjamin Netanyahu said he wanted Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah, which is linked to Iran.