World stocks rise after worst month in two years

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It’s been a torrid month for riskier assets with world stocks having lost 5.8% so far in April

World shares rose on Friday, at the end of a month that will be the benchmark’s worst in two years, as a slight pullback in the dollar from 20-year highs offered relief to battered markets.

A 5% rise in the dollar’s index, its biggest monthly rise in seven years, has meanwhile pummelled other currencies, with the yen the worst loser, touching two-decade lows. Markets expect 150 basis points of rate hikes in the next three Fed meetings, far outpacing other global central banks. Friday’s market recovery was also helped by reports that a resolution was in sight to the dispute over the listing of Chinese companies in the US, said Steven Leung, executive director of institutional sales, at Hong Kong brokerage UOB Kay Hian.

However, Nasdaq futures were down 0.7%, pressured by disappointing earnings from Amazon after market close. Frankfurt-listed Amazon shares fell 8%.The earnings season so far has been healthy, with most companies beating estimates, but worries are growing that high input costs and a slowing global economy will crimp the outlook.

In Europe too, government bond yields slipped despite above-forecast French inflation figures that on the heels of sharply higher German print the day before

 

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