Global stocks rise to five-month highs as dollar dips
Investors are firmly focused on the Fed meeting on Wednesday for further cues on US interest rates
London — Global stocks rose to their highest in five months and the dollar dipped on Monday as traders began to price in an accommodative stance from the US Federal Reserve at its policy meeting this week. European markets extended a run of gains, helped by a jump in shares in German lenders Deutsche Bank and Commerzbank after they confirmed over the weekend they were in talks to merge. The pan-European STOXX 600 index rose 0.3%, hitting a five-month high. Britain’s FTSE 100 outperformed its European peers with a 0.3% gain at the start of a week that could see parliament voting for a third time on Prime Minister Theresa May’s Brexit plan after ruling out a near-term no-deal exit. MSCI’s All-Country World index, which tracks shares in 47 countries, was up 0.3% on the day. The index set a five-month high, hitting its highest since October 10. With a signs of global economic growth slowing, traders were focused squarely on the Federal Reserve, which meets on Wednesday for further cues ...
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