ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

World stocks break 500 barrier, oil camps at 2-1/2 yr high

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

The global rally in stocks showed no sign of slowing on Tuesday, as upbeat investors pushed the most widely-tracked index of world stocks up for a ninth straight day and sailing past the 500 point barrier.

The latest leg of the run came as Japan`s Nikkei hit its best level since 1992 [.T], Germany`s DAX scored a record high and the rest of Europe gained as a 2-1/2 year high in oil prices lifted resources stocks again.. [.EU]

All three of Wall Street`s major indexes had closed at record peaks overnight too and the now 500-point MSCI 47-country `All World` index, was up 0.2 percent having soared almost 20 percent this year.

"You`ve had almost a perfect backdrop for equities," said Pictet Asset Management`s global strategist Luca Paolini.

"You have acceleration in nominal growth, earnings are between 10-15 globally and whatever you look at is pretty much in double digits."

The only outlier remained the Gulf, as nervousness around the weekend purge of Royals and officials in Saudi Arabia sent its stock market down again and Kuwait`s tumbling more than 4 percent. [EMRG/FRX]

Oil prices largely held on to their gains after posting the biggest rise in six weeks following the Saudi moves, which had seen the crown prince tighten his grip on power and crank up tensions between the kingdom and Iran.

U.S. crude steadied at $57.24 in Europe after going as high as $57.69 and Brent crude futures were at $64.04 after touching a peak of $64.65 a barrel. [O/R]

The dollar was also back on the move in the currency markets.

It pushed the euro down to $1.1572 - the single currency`s lowest since mid-July - having also found some traction against the yen overnight. [FRX/]

The dollar index, which tracks the greenback against a basket of six major currencies, added 0.3 percent to top the 95 points mark..

A modest rise in U.S. yields also helped the U.S currency. The benchmark 10-year yield was at 2.328 percent in compared to 2.320 percent, its U.S. close on Monday, when it plumbed its lowest levels in two weeks.

It was at a seven-month high of 2.47 percent as recently as late October. [US/] Germany`s 10-year bond yields also held near two-month lows after the ECB had firmed up its plans to reinvestment the proceeds of its 2.4 trillion euro stimulus programme. [GVD/EUR]

The Federal Reserve confirmed on Monday that influential monetary policymaker William Dudley plans to retire by mid-2018, leaving the leadership of the U.S. central bank unusually open.

Negotiators in the U.S. House of Representatives will also seek to overcome their differences this week and work on a tax cut plan, aiming for their self-imposed deadline of passage this month.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Tue, Nov 07, 2017
05:21 pm
Reuters
RELATED NEWS
GST Council to meet on February 18 GST Council to meet on February 18
No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?

LATEST NEWS

No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says

Twitter creators with ‘Blue Verified’ tag may get ad revenue share, here’s what Elon Musk said

GATE 2023 Begins Today: Check Exam Day guidelines, Exam Schedule, Exam Timings, Reporting and more details

Govt announces substantial hike in windfall tax on locally produced crude oil, diesel and ATF export

Vedanta share price falls 5%; check dividend record date and payment date

Paytm shares under pressure ahead of Q3 results — what should investors do?

SEBI proposes to allow alternative investment funds' to carry forward unliquidated investments to new schemes

Petrol, diesel prices hiked by Rs 2 per litre in THIS state

BoB Q3 Results 2023: Net profit jumps 75% to Rs 3,853 crore; stock surges 6%

SBI Q3 Results: Net profit jumps 68.5% to record Rs 14,205 crore, far exceeds analysts' expectations

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV