Global stocks in buoyant mood

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Markets at fresh peaks as investors bet the US Fed will hold back on tapering its stimulus programme in the near term

A man watches an electronic ticker tape outside a securities firm in Tokyo, Japan. Picture: BLOOMBERG/SOICHIRO KORIYAMA

The MSCI world equity index was up 0.1% by 7.46am GMT and looked set for its eighth consecutive day of gains to record highs, while stock futures pointed to a positive open on Wall Street after the long Labour Day weekend. The US economy created 235,000 jobs in August, the fewest in seven months as hiring in the leisure and hospitality sectors stalled, reducing expectations that the Fed will opt for an early tapering of its monthly bond purchases.

Mainland Chinese shares extended gains, with the Shanghai Composite rising 1.5% to its highest since February, helped by Chinese trade data showing exports and imports grew much faster than expected in August. The ECB is seen debating a cut in stimulus, with analysts expecting purchases under its Pandemic Emergency Purchase Programme falling possibly as low as €60bn a month from €80bn now.

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