London
Global stock markets rose sharply Monday as governments relaxed coronavirus lockdowns and investors bet that the world economy has seen the worst of the pandemic’s impact. Oil prices surged back above $30 per barrel and gold rose to levels not seen in more than seven years. “It has been a very optimistic start to the new week with stocks, crude oil, copper, gold and silver all pushing higher,” said Fawad Razaqzada at ThinkMarkets. Traders also not only brushed off a warning from the head of the Federal Reserve that a full recovery would likely not come until next year, but took the statement as a sign that more central bank stimulus is coming, further fuelling their appetite for stocks. “Sentiment has been boosted as many European countries including Spain, Italy and the UK reported the lowest number of Covid-19 related deaths for two months at the weekend and as several countries ease lockdown restrictions,” Razaqzada said.—AFP
