Global markets rally on trade talk optimism, strong Chinese export data
The upbeat mood pushed investors away from safe-haven assets towards toward riskier currencies
London — Progress in the US-China trade talks helped propel world stock markets to a six-month high on Friday and steered investors away from save havens such as the Japanese yen. In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and London’s FTSE futures each rose about 0.1%. US Treasury secretary Steven Mnuchin said he hoped US-China trade talks were approaching a final lap. That, combined with strong Chinese export and euro zone industrial production data on Friday, has lifted global equities, bund yields and the euro. The US Federal Reserve pausing its rate-tightening efforts and Britain delaying its exit from the EU has also helped lift the mood in equity markets. “It seems like bullish sentiment has decent grip for now and everyone is focused on the year to date performance of the equity markets,” said Naeem Aslam, chief market analyst at TF Global Markets in London. MSCI’s gauge of stocks across the globe gained 0.5%. The index is up nearly 15...
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