London — The global rally in stocks showed no sign of slowing on Tuesday, as upbeat investors pushed the most widely-tracked index of world stocks up for a ninth straight day and sailing past the 500 point barrier. The latest leg of the run came as Japan’s Nikkei hit its best level since 1992, Germany’s DAX scored a record high and the rest of Europe gained as a two-and-a-half year high in oil prices lifted resources stocks again.. All three of Wall Street’s major indexes had closed at record peaks overnight too and the now 500-point MSCI 47-country All World index, was up 0.2% having soared almost 20% in 2017. "You’ve had almost a perfect backdrop for equities," said Pictet Asset Management’s global strategist Luca Paolini. "You have acceleration in nominal growth, earnings are between 10-15 globally and whatever you look at is pretty much in double digits." The only outlier remained the Gulf, as nervousness around the weekend purge of Royals and officials in Saudi Arabia sent its ...
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