World shares roar higher on US-China trade-deal hopes
Emerging-market shares head for their best day since early 2016, as sterling builds on its strongest day of the year
London — World share markets roared higher on Friday as hopes built that the US and China are starting to repair their badly damaged trade relations. The signals triggered a global surge in risk appetite that lifted metals and swathes of trade-sensitive currencies and bond markets, but it was equities that saw the most explosive action. A jubilant Asian session, that included 2.5% to 4% percent leaps for most of region’s big bourses, put the world’s main emerging-market index up 3% and on course for its best day and week since early 2016. Europe was overjoyed too. Germany’s export-heavy DAX 30 jumped 1.5% in its best start since July, while Wall Street futures were also up almost 1% ahead of the monthly installment of non-farm payrolls jobs data. “When Trump wants to bump the market ahead of the mid-terms the market likes it,” Saxo Bank’s head of forex strategy John Hardy said, referring to next week’s mid-term US elections. Hardy said while it might just be “political theatre” from...
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