Global markets boosted by soaring US company earnings
The three major US indices tallied their biggest one-day percentage gains since March on Tuesday, rising more than 2% each
London — Forecast-beating US company earnings improved the mood on world equity markets on Wednesday, as Asian and European shares put aside concerns on global growth and trade and took their cue from Wall Street's best one-day rise in eight months. While the dollar's mini-bounce off two-week lows checked emerging-market gains, they were supported by easing tension between Saudi Arabia and the US, as well as signs that Turkey's currency crisis had been laid to rest. A pan-European equity index rose 0.15% to a one-week high. Earlier, MSCI's ex-Japan share index added 0.6% while Japan's Nikkei jumped 1.3%. The gains follow a scintillating New York session where the three major indices tallied their biggest one-day percentage gains since March, rising more than 2% each. They are set for another strong session, equity futures signalled. All this marks a partial recovery from a recent pullback that saw the S&P 500 index post its biggest weekly drop since March. While many investors are d...
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