World stocks at one-week highs as Wall Street extends rebound
World stocks rise 0.6% and the pan-European index is up 1.7%, but safe-haven assets are still in demand as caution persists
London — World stocks rose to one-week highs on Friday and looked set to snap a three-week losing streak after a late-session bounce overnight on Wall Street filtered into Asian and European markets. Safe-haven assets were also in demand amid broader doubts about the market stability that, in turn, eroded the dollar’s appeal. US shares appeared poised for another rise, with futures for the S&P500, Dow Jones and Nasdaq indices all up about 0.5% while a pan-European benchmark rose 1.7%, reversing Thursday’s retreat. This took MSCI’s all-country equity index 0.6% higher, for a weekly gain so far of almost 2%. Non-US equities have, however, not matched a two-day surge on Wall Street that saw the S&P 500 gain 5.9%, its best performance since August 2015. While Wall Street’s resilience has fueled hope that some of the market pressure may be easing, investors remain wary. “The volatility here at year-end is unlikely to be sustained, but without more encouraging signals from Washington, the...
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