Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire
Home » Finance News » Global shares rally, dollar hits one-year low

Global shares rally, dollar hits one-year low

LONDON: Global shares rallied on Thursday, pushing the benchmark world index to a fresh 11-month high, while the euro hit a one-year peak against the low-yielding dollar as investors put back risk trades due to economic optimism.
 
 An upgrade in Japan's view on the economy, upbeat Chinese data and bullish comments from a senior Beijing government economist, plus Wednesday's firm U.S. industrial output data all helped to prompt investors to pile on risky assets and dump safer and low-yielding instruments.
 
 The latest leg of the risk rally started earlier this month when Group of 20 finance chiefs pledged to keep emergency economic stimulus packages in place.
 
 "Policymakers have made it plain that they are going to do everything they can to sort out this problem," said Neil Dwane, European chief investment officer at Allianz Global Investors' RCM. "Investors are now realising that interest rates are going to remain low, bond rates are going to remain low and therefore you might as well to take risk and at the moment there is only one place for your to take risk -- it's equities."
 
 MSCI world
equity index rose 0.7 percent to levels not seen since October 2008, bringing its gains this year to almost 28 percent.
 
 The Bank of Japan upgraded its view on the economy, bringing it a step closer to phasing out some of its measures to support corporate funding. U.S. industrial production rose for a second month in August, data showed on Wednesday, reinforcing views that the nation's recession had ended.
 
 Chen Dongqi, China's senior government economist, said the country's economy may regain double-digit annual growth in the fourth quarter of this year, potentially bringing policy tightening closer. Economic data for industrial output,
investment and credit all surprised on the upside in August.
 
 The FTSEurofirst 300 index rose 0.7 percent onb Thursday while emerging stocks hit a fresh one-year high. U.S. crude oil fell 0.1 percent at $72.40 a barrel. The September bund futures fell 36 ticks. The dollar hit a one-year low against a basket of major currencies. The euro reached a one-year high of $1.4766 while the New Zealand dollar rose to its highest in more than a year above $0.7157.
 
 "Firm
stocks suggest the dollar is probably set to slide for another week," said Hideaki Inoue, chief manager of FX trading at Mitsubishi UFJ Trust Bank in Tokyo.



More Finance News


put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.