Global markets rebound from last week’s slump

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London

World stock markets rebounded Monday from last week’s heavy selloff, as falling US Treasury yields soothed inflation concerns, dealers said.

London equities jumped 1.6 percent in late morning trade, while Frankfurt was up 1.2 percent and Paris added 1.5 percent just after midday in the eurozone.

Asian stocks rose strongly on bargain-buying as the passage of President Joe Biden’s $1.9-trillion Covid relief stimulus through Congress provided additional cheer.

Oil prices climbed before this week’s OPEC+ output meeting of oil producers, while the dollar advanced versus the euro and yen. “Equity markets are showing strong gains as bond yields cool,” said analyst David Madden at online trading firm CMC Markets UK.—AFP

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