World stocks lose momentum after record-breaking week
Global stocks retreat from record highs as earnings buoy European equities and investors await substantive policy updates from Trump
London — Global equity markets were set to end the week on softer footing on Friday, after setting record highs in the previous two sessions, as investors looked for clarity on US President Donald Trump’s policies on tax and trade. The MSCI All-Country World index was still headed for its fourth straight week of gains after hitting a record high on Thursday, buoyed by positive signs for global economic growth, but Asian and European markets eased as investors cashed in recent gains. MSCI’s index of Asia-Pacific shares outside Japan pulled back 0.2%, Tokyo stocks closed down 0.6%, and the pan-European STOXX 600 index was 0.5% lower, although it remained near its highest level in 13 months. European stocks have been boosted by positive earnings surprises. With more than half of the STOXX 600 companies having reported, 55% had beaten forecasts. "As long as the fundamentals and the earnings story continue to carry through, there’s a reason to be invested in these stock markets," said Na...
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