Global stocks gain on China stimulus hopes; oil up further

SEOUL, South Korea (AP) — Global stock markets rose Tuesday as slack Chinese consumer price figures stoked expectations of more stimulus policies.

The July figure is the third monthly drop in a row since April, when the consumer price index reached its highest level since July 2014.

ANALYST'S TAKE: News that OPEC would be having a September meeting with certain members keen to push for supply cuts again served as the impetus for oil prices to rally.

While a deal is highly unlikely to eventuate, the fact that it is even being mentioned shows how much difficulty the past month's renewed sell-off was causing many struggling OPEC members, Angus Nicholson, a market analyst at IG in Melbourne, Australia, said in a daily commentary.