London — Global stocks inched up to a record high on Tuesday, shrugging off weaker-than-expected Chinese trade data that clouded an otherwise bright outlook for global growth. Chinese imports and exports both fell well short of forecasts in July, and growth in overall trade — while still a healthy 8.8% — was its slowest this year. However, MSCI’s all country world index ticked up to set a new record high at 480.76 points. It was last up less than 0.1% at 480.54 points. The index, which tracks shares in 46 countries, is on track for longest monthly winning streak since 2003. Shares across the globe have been hitting record highs in record low volatility supported by a benign environment for global growth. This week, ratings agency Fitch lifted its outlook for the world economy for 2017 and 2018. "Data continue to suggest a synchronised global expansion across both advanced and emerging market economies. Spillovers from the rebound in emerging market demand are reflected in the fastes...
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.