London — World stock markets rose to their highest level in more than two weeks on Monday as reassuring comments from the US Federal Reserve chief, an easing in trade war jitters and a bid by China’s central bank to stabilise the yuan lifted risk appetite. A stronger-than-expected German business sentiment survey added to the upbeat mood in Europe, with stock markets in Paris and Frankfurt up 0.4% each. British markets were closed for a public holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1% and Japan’s blue-chip Nikkei closed at a 10-week high. That left the MSCI all-country world index, which tracks shares in 47 countries, at its highest level since August 9. Comments from Fed chief Jerome Powell at the Jackson Hole symposium on Friday affirming that the US central bank was sticking with its strategy of gradual rate hikes to protect economic growth sparked a rally in stocks that gathered pace as a new week swung into gear. Helping to brighten the mood,...
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