World stocks at new peaks on strong China, U.S. data

Photo credit: HENRY NICHOLLS / AFP via Getty Images. Article by Herbert Lash and Simon Jessop. Global Banking and Finance Review – April 17, 2021.

NEW YORK/LONDON (Reuters) – Gold prices hit a seven-week high and global stocks scaled new records on Friday after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus pandemic.

Government stimulus, strong corporate earnings from U.S. banks and in Europe, along with signs of economic recovery in countries leading the COVID-19 vaccination race have all helped push stock market indexes to new heights this week.

MSCI’s broadest gauge of world stocks rose 0.42% to an all-time peak, lifted by surging European shares and lesser gains on Wall Street where both the Dow Industrial and benchmark S&P 500 posted their fourth week of successive gains. […]

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