Reuters
July 10, 2017
Stock markets rallied on Monday and the U.S. dollar hit a two-month high against the yen, as robust economic data from the United States and Germany left investors increasingly confident about the strength of the world economy.
Focus also turned to Federal Reserve chief Janet Yellen’s semi-annual testimony on monetary policy and a meeting of Canada’s central bank on Wednesday for the latest signals on policy from major central banks.
For now, unease about an end to an era of ultra-cheap money has given way to optimism about global growth, with Friday’s stronger-than-expected U.S. non-farm payrolls report bolstering risk appetite. Data on Monday showed exports from Germany, Europe’s biggest economy, rose more than expected in May.
The pan-European STOXX 600 rallied 0.4 percent, with banks and utilities the strongest sectors. Blue-chip stock markets in London .FTSE, Paris .FCHI and Frankfurt .GDAXI climbed 0.2 to 0.5 percent. [.EU]
This article was posted: Monday, July 10, 2017 at 9:00 am
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