• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

World shares close in on record peak as vaccines fuel normalisation hopes

5 years ago
in Business, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
65
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Global shares closed in on their record peak on Friday, with Asian shares taking their lead from Wall Street, as progress in vaccine distribution prompted bets on further normalisation in the global economy and earnings recovery.

MSCI’s gauge of Asian shares outside Japan rose 0.4% while Japan’s Nikkei rallied 1%.

An index of the world’s major 50 markets, MSCI ACWI, extended its gains into a fifth straight day to come within reach of a record high touched about two weeks ago.

On Wall Street, each of major indexes rose more than 1% on Thursday, with the Nasdaq Composite Index and S&P 500 setting record highs.

“What’s driving the market is corporate earnings are posting a strong recovery,” said Jumpei Tanaka, strategist at Pictet.

“And there are piles of money saved in MMF (money market funds) and elsewhere that are likely to be invested in stocks once the economy normalises as vaccination programmes progress.”

Expectations of a large stimulus by the Biden administration also supported risk sentiment while better-than-expected data on U.S. job markets published in the past two days is fanning a bullish mood on the upcoming payroll report due later in the day.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Longer-term U.S. Treasury yields rose in anticipation of a large pandemic relief bill from Washington as well as on heightening inflation expectations.

The benchmark 10-year yield stood at 1.136%, having risen to a three-week high of 1.162% the previous day while the 30-year bonds yielded 1.929%, near its 10 1/2-month high of 1.951% touched on Thursday.

Bond yields rose in Europe as well, with Germany’s 30-year government bond yield climbing back in positive territory for the first time since September.

A market gauge of future U.S. inflation was at its highest since October 2018 while that for the euro zone hit its highest since May 2019.

In the currency market, the dollar strengthened against most of its peers as traders’ focus appeared to shift to the relative strength of the U.S. growth.

Until recent weeks, the dollar had been sold on expectations that global economic recovery will promote outflows of funds to riskier currencies from the safe-haven dollar.

The U.S. dollar index stood near a two-month high, having risen 1.1% so far this week, on course for its biggest weekly increase since October.

The euro changed hands at $1.1964, having hit a two-month low of $1.1955 overnight while the yen hit a 3-1/2-month low of 105.70 per dollar.

“It seems markets are now trying to trade on economic normalisation based on progress in vaccination,” said Arihiro Nagata, general manager of global investment at Sumitomo Mitsui Bank.

“The fact that the only currencies that are doing better than the dollar over the past two days are the British pound and the Israeli shekel, the two countries that are going further ahead in vaccination, seems to support that.”

The British pound stood at $1.3678 not far from its 2 1/2-year peak of $1.3759 hit late last month.

The shekel rose over the past two days, reversing its decline since mid-January after the Bank of Israel intervened to stem the shekel’s strength after it had hit a 24-year high.

Strength in the dollar pushed gold to a two-month low of $1,785.10 per ounce on Thursday. The metal was last traded at $1,797.40.

Oil extended its gains on upbeat economic mood, falling inventories and the OPEC+ decision to stick to its output cuts.

U.S. crude rose 1% to $56.80 per barrel and Brent was at $59.38, up 0.9%.

Source: reuters
Via: norvanreports
Tags: global economic recoveryLonger-term U.S. Treasury yieldsNasdaq Composite IndexS&P 500Wall StreetWorld shares
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.