Global shares grind higher despite rising bond yields, weak data

SourceArab News
SectorFinancial Markets
CountryMiddle east

LONDON: Global shares edged up on Friday, reversing three days of losses, as investors clung to hopes of economic recovery ahead, while German and British 10-year bond yields touched multi-month highs, spurred by bets of reflation in the US. The pan European index was up 0. 2 percent but still set for its first weekly loss in February, as investors took solace in factory activity in February jumping to its highest in three years even as the data also showed continued pain for the bloc's dominant service industry from measures to contain the coronavirus. London's FTSE index was 0.

1 percent firmer. Data showed British retail sales tumbled in January. The MSCI world equity benchmark was 0. 2 percent stronger. MSCI's broadest index of Asia Pacific shares outside of Japan was flat. E-mini futures for the S&P 500 were 0. 3 percent firmer. Global shares have been fueled in recent months largely by easy monetary and fiscal policies around the...read more...