London — Global stocks hit record highs on Wednesday, pushing gains for the year above those for all of 2016, while the dollar rose before Federal Reserve minutes that will be scoured for clues on the timing of the next US interest rate rise. European shares followed Asian bourses higher, buoyed by all main indices on Wall Street touching record closing highs on Tuesday. Relatively strong earnings seasons in Europe and the US, forecast-beating economic data and US President Donald Trump’s promises of tax reform, less regulation and more infrastructure spending have all helped lift stock markets. MSCI’s main index of global stocks, which tracks share prices across 46 countries, hit a second successive record high. It has risen about 5.7% so far this year, beating the 5.6% gains of 2016. The pan-European Stoxx 600 index rose 0.1% on Wednesday. Britain’s Lloyds Banking Group was up 3% after reporting its highest full-year profit in a decade. MSCI’s broadest index of Asia-Pacific shares...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.