World shares rebound but still set for worst week since February
Asian and European shares bounce back, as China’ trade surplus with US hits record high
London — Global shares were having their best day in nearly a month on Friday as European and Asian markets recovered from a brutal selloff that still left them set for their worst week since February. After a partial recovery in Asian shares overnight, European stocks opened higher, with the pan-European STOXX 600 up 0.9% on the day, Germany’s DAX 30 up 1.1% while Britain’s FTSE 100 gained 0.4%. S&P stock futures pointed to a rebound in US stocks later in the day, while the VIX volatility index climbed down from an eight-month high. The MSCI All-Country World index, which tracks shares in 47 countries, was up 0.5% on the day. “Some traders are cautiously buying back into the market today, but the underlying issues which brought about the selloff are still relevant,” said David Madden, markets analyst at CMC Markets in London. The biggest market shake-out since February has been blamed on a series of factors, including worries about the impact of a China-US trade war, a spike in US ...
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