Global stocks remain at three-week high
However, Asia was knocked by a shock profit warning from tech giant Samsung and a tick-up in borrowing costs
London — A solid start from Europe kept world stocks at a three-week high on Tuesday after Asia was knocked back by a shock profit warning from tech giant Samsung and a tick-up in borrowing costs. Hopes that Washington and Beijing may be moving towards a trade deal also helped the mood again and gave the dollar a lift in the currency markets after its weak start to the year. That rise, along with the alarm from South Korea's Samsung that it would badly miss its earnings forecasts caused a swoon in emerging markets, but Europe held its nerve unlike last week after a similar warning from Apple. The pan-European Stoxx 600 rose 0.6%, Britain's FTSE was up 0.5% amid reports of a Brexit delay and Italian banks jumped almost 1% as Rome stepped in to support another of its troubled lenders. "I think the market has been quite extreme in pricing recession risks, so I think we have value now in both the equity and bond markets," SEB investment management's global head of asset allocation Hans ...
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