LONDON, Oct 13 — World stocks steadied around the week’s lows with the mood dampened by inflation worries ahead of US consumer price data later today, with economic recovery in many countries keeping oil prices near multi-year highs.
The MSCI world equity index was flat after dropping in the previous three sessions. S&P futures fell 0.4 per cent after the S&P 500 dropped 0.2 per cent overnight on earnings jitters. Positive trade figures from China, which showed export growth unexpectedly accelerated in September, provided some relief to those worried about a slowdown in the world’s second-largest economy.
The dollar fell 0.2 per cent against an index of currencies after hitting a one-year high in the previous session on rising expectations the Fed will announce a tapering of stimulus next month, with interest rate hikes following next year. Ten-year US Treasury yields, meanwhile, steadied at 1.5804 per cent after hitting four-month highs yesterday.