World shares near five-year high

LONDON Mon May 20, 2013 1:03pm IST

People look at a stock quotation board outside a brokerage in Tokyo May 15, 2013. REUTERS/Toru Hanai

People look at a stock quotation board outside a brokerage in Tokyo May 15, 2013.

Credit: Reuters/Toru Hanai

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

LONDON (Reuters) - Rising optimism about global growth pushed world shares to a near five-year high on Monday, while comments from Japan's economy minister that consumers could suffer if the yen falls further lifted it off a 4-1/2 low.

Data last week that showed U.S. consumer sentiment at its strongest in nearly six years continued to support equity markets. MSCI's world index is at its highest since June 2008 as top European shares started the week up 0.2 percent.

With risk appetite dominating, safe-haven German Bunds fell 45 ticks, while gold, also pressured by signs the U.S. Federal Reserve could start winding down its support, extended it longest losing streak in four years to hit a 1-month low.

"We have started to see a series of positive readings coming out of the United States. We are positioned for a rising market and think that the best way is to invest in financials," said HSBC equity strategist Robert Parkes.

In the currency market, focus remained largely on the yen and it edged up from last week's 4-1/2 year low after Japan's economy minister suggested over the weekend the government might be satisfied with its level after it recent slump.

"People say the excessively strong yen has corrected quite a bit. If the yen continues to weaken steadily from here, negative effects on people's lives will emerge," Japanese Economics Minister Akira Amari told a Sunday talk show.

As European trading gathered pace Brent crude held steady at $104.60 a barrel while copper eased 0.36 percent to $7,282.50 a tonne as the talk of the Fed tapering its bond purchases weighed on sentiment.

(Reporting by Marc Jones; Editing by Toby Chopra)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Facebook Earnings

Facebook Earnings

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

DLF Shares

DLF Shares

DLF slides 3 percent, underperforms rivals.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage