Investors shrug off growth worries

LONDON:

World stocks climbed on Wednesday, with investors looking beyond economic data that pointed towards slowing growth to focus on a likely continuation of massive central bank stimulus measures. The Euro Stoxx 600 rose as much as 0.9% before trimming gains a tad, just shy of its all-time high. Indexes in Paris and London added 1% and 0.6% respectively. Travel and leisure and insurance stocks were among the top gainers. Wall Street futures gauges also pointed to early gains of around 0.3%. The upbeat tone for equities came in spite of signs that Asia’s factory activity lost momentum in August. A resurgence in coronavirus cases disrupted supply chains across the region, with the data likely to raise concerns that faltering manufacturing will add to economic headaches caused by slumping consumption. Yet many market players remained cautiously positive on prospects for equities in particular, with many expecting central bank stimulus measures to remain and companies to report strong earnings.

Published in The Express Tribune, September 2^nd, 2021.

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