Global stocks set for second week of gains, but commodity price rally fades
London — World stocks dipped on Friday but were set for a second week of gains after a strong start to the global corporate earnings season, while a rally in commodity prices fizzled out. The MSCI all-country world index, which tracks shares in 47 countries, was down 0.3%. Losses by the tech sector in Asia and profit-taking among mining stocks in Europe contributed to the overall losses. The index is still on track for a 1% gain this week, as global markets recover from a turbulent first quarter which saw the return of volatility, trade tensions between the US and China, and tensions in the Middle East. "Our base case is that investor focus will shift back to economic growth as some of the current uncertainties ease," UBS strategists wrote in a note to clients. "In our base case we do not expect current tensions between Nato and Russia to escalate further than issues in the past, such as Crimea, and expect the trade dispute between the US and China to be negotiated without escalatin...
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.