Stock markets inched higher on Tuesday as reassuring data about the health of China’s economy helped investors shrug off disappointing bank earnings in the United States, while volatility in European markets took another leg lower.
“After the strong rally we have seen in equities, people are now waiting for the next catalyst,” Pochan said. “We do expect some more positive data from Europe which should give a bit of fresh air ” The MSCI world equity index, which tracks shares in 47 countries, edged up 0.1 per cent in early European trade.Turkey’s lira recovered slightly after closing at its weakest level since October on Monday. The Turkish currency was hit by data showing a surge in unemployment, a higher than expected budget deficit and tensions with the United States.
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