Global stocks creep up as varying Covid scenarios result in push-pull trading

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

United States News News

Markets are haggling over whether to bet on recovery in developed nations or worry about surges in India and Japan

London/Tokyo — Global stocks ground higher while oil ebbed on Thursday as markets haggled over whether to bet on economic recovery in the US and other developed markets or worry about a surge in Covid-19 cases in countries including India.

Europe’s top indexes also all opened higher ahead of the latest meeting of the European Central Bank , with the broad Stoxx Europe 600 up 0.5%, bolstered by upbeat earnings from Nestle and Volvo. The buoyant start to the day followed overnight gains in Asia, where Japan’s Nikkei 225 rose 2.4% and MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%.Despite stocks being generally upbeat, oil — another asset geared to perceptions of economic growth — fell after a resurgence of Covid-19 cases in India and Japan, and a recent surprise stock build in the US, weighed on sentiment.

“What is hurting market sentiment is also the fact that the Covid-19 pandemic is spreading again at a fast pace in India and Japan despite the fact there had been hopes that the spread of vaccination would improve the infection situation,” he said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines