Global stocks Markets rally on economic recovery

LONDON:

Stock markets rallied Monday, with fresh signs of economic recovery resonating with investors more than a surge in coronavirus infections worldwide. The easing of lockdowns is providing hope the global economy will bounce back from an expected recession this year. Better-than-forecast data on US jobs creation and factory activity have also provided a boost to confidence, as have hopes for a vaccine, which observers say is key to kickstarting any recovery. On Wall Street, the Dow Jones was more than 350 points higher in the late New York morning, while key European markets posted gains of 1.5% or more at the close. Investors on both sides of the Atlantic took their cue from equities in China, “with the world’s second largest economy seeing a huge uptick” which saw its main stocks index closing up nearly 6%, noted Joshua Mahony, senior market analyst at IG trading group.

Published in The Express Tribune, July 7^th, 2020.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.