London — World shares traded near record highs on Monday, as markets were generally upbeat about the prospects for a global economic recovery from Covid-19, ahead of a busy week for earnings.
Matthias Scheiber, global head of portfolio management at Wells Fargo Asset Management, cited low interest rates, the rollout of Covid-19 vaccines and the fiscal stimulus package in the US as reasons for his bullish stance on equities. Earnings from IBM and Coca-Cola are due later in the session. Netflix reports on Tuesday. Later in the week, American Airlines and Southwest will be the first major post-Covid cyclicals to post results.
In currency markets, the dollar index was down 0.4% at its lowest levels in more than a month, at 91.259, having weakened since its recent peak of 93.439 at the end of March.The euro was up 0.3% vs the dollar at $1.20165 . “We think that it is more likely that we will be raising our year-end targets, rather than reducing them, as we move through the summer,” he said.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE gains as global markets recover from Janet Yellen’s commentsThe local bourse broke a four-day losing streak, gaining the most in more than a month
Source: BDliveSA - 🏆 12. / 63 Read more »