World Stocks on a Progressive note for First Weekly Gain
World stocks managed for their first weekly gain in three in the middle of the flood in commodity prices on the other hand traders supported the U.S. jobs report later on Friday that could provide clues on when the Federal Reserve will ease back on monetary stimulus.
European stocks opened higher, with the pan-European STOXX 600 index scoring a record as powerful data from Germany and other major economies added to hopes of a swift recovery from the pandemic shock.
By midday in London, German DAX climbed 1.3%.
France’s CAC 40 scored its highest since November 2000 Britain’s
FTSE 100 breached the 7,100 marks, up 0.7% on the day.
MSCI’s benchmark for global equity markets, which tracks stocks in 50 countries, slightly up about 0.2%, on course for a 0.5% gain this week.
Its broadest index of Asia-Pacific shares outside Japan lifted about 0.4% on Friday, while Japan’s Nikkei increased about 0.2%.
China’s blue chips finished at 1.3% lower on the day.
Iron ore futures jumped to a record high on Friday, while crude oil rose.
Wall Street investors piled into economically-sensitive stocks on the reflation trade, driving the Dow Jones Industrial Average to a record close on Thursday.
The Dow climbed 0.9%, the S&P 500 gained 0.8% and theNasdaq Composite added 0.4%.
S&P futures led to further gains 0.3% higher on Friday.
The Russell 1000 Value index increased 0.8%, outpacing the Russell 1000 Growth index, which raised 0.5%.