Chinese shares push global equities towards six-month high
Global markets benefit from the biggest jump in Chinese stocks for more than two years and Wall Street’s best close since January
London — World shares edged towards a six-month high on Tuesday, as the biggest jump in Chinese stocks for more than two years and an upbeat start for Europe followed Wall Street’s best close since January. The moves came despite a host of simmering global feuds. Oil prices ticked higher as the US reimposed some sanctions on Iran, while the Turkish lira bounced back almost 2% from its worst day in a decade on Monday that had been prompted by a row with Washington. The mood lifted overnight as Chinese stocks rebounded 2.7% on the hope of fresh government spending, following a four-day sell-off that had knocked them down about 6%. London, Paris and Frankfurt followed by rising 0.6%-0.9% as Europe’s investors cheered results from Italy’s biggest bank UniCredit and oil firms and miners gained on the rise in crude prices. "The Chinese have stabilised the yuan, the lira hasn’t been annihilated this morning so once the sharp forex moves have calmed down and as long as the [company] earning...
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