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Global Stocks At Eight-Month High, France Attack Subdues Europe

Posted by Chris Advincula on Jul 15, 2016 6:59:43 AM



(July 15 Reuters) Reassuring Chinese data lifted world stocks to an eight-month high on Friday though Europe ended an otherwise strong week subdued after an attack by a gunman at the wheel of a truck in the south of France killed at least 84 people.

Britain's FTSE 100 and Germany's DAX managed to shake off an early dip to be back level but France's CAC40 remained 0.4 percent lower after a gunman on Thursday evening plowed into a crowd celebrating Bastille Day in the Riviera resort of Nice.

News, though, that China's economy grew a slightly better-than expected 6.7 percent in the second quarter as the government stepped up spending helped extend the week's global rally in risk assets.

MSCI's 46-country All World stocks index was at its highest since early November after a 2.7 percent jump on the week.

The pound, which took a battering after the UK voted last month to leave the European Union, was set for its best week ever against the safe-haven Japanese yen, up roughly 9 percent. It was also up 3.7 percent on the dollar and over 3 percent against the euro.

Click on the link below to see the full story from Reuters: (by Marc Jones)

Global stocks at eight-month high, France attack subdues Europe

Topics: Stocks, china, Europe, Forex, Fundamentals, France


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