Global stocks start November in a buoyant mood
The improved mood filtered down to Asia from Wall Street, which rose for a second day on Wednesday
London — Global stocks started the new month on firmer ground on Thursday after a brutal October, while sterling rallied on reports that the UK and EU were close to a post-Brexit deal on financial services. The MSCI all-country world index, which tracks stocks in 47 countries, was up 0.3% on the day. October was the index's worst month since May 2012 a loss of 7.5% — as shares globally took a battering on a number of factors ranging from trade wars to concerns about the global economy and higher US interest rates. European markets followed a strong start in Asia, with robust company earnings helping the pan-European Stoxx 600 index hit a two-week high. Britain's FTSE 100 however fell 0.1% as the pound strengthened on a report Britain and the EU are close to a deal that would give financial services firms in the UK continued access to European markets once Brexit happens. "This is a significant development for the pound as it alleviates some market concerns on how London would financ...
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.