Expectations of more central bank stimulus lifted world stocks to their highest ...
LONDON - Expectations of more central bank stimulus lifted world stocks to their highest in more than a week on Wednesday, helping investors look past a mounting coronavirus death toll and policymakers’ concerns for the disease’s economic impact.
European shares also turned around following a lacklustre open, with a pan-European benchmark up 0.6%. Wall Street futures reversed earlier losses to rise almost half a percent. MSCI’s global index rose 0.3% and was 2.3% above Monday’s six-week lows. The report and the stimulus expectations offset at least partly the news that the virus’s death toll had killed 500 and sickened 25,000.
The Singapore dollar fell to a near-four-month low after monetary authorities said the currency had room to weaken to offset the effects of the virus. Markets responded by pricing in policy easing at the April meeting.
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