(Bloomberg) – European equities rose alongside US stock futures as investors clung to their cautious optimism about the prospect of a simpler monetary policy. The euro rose for a third day.
The Stoxx Europe 600 rose as mining and chemical stocks rallied. US stock futures extended their advance after the S & P 500 index closed at a record high on Thursday. The shares fell in Australia and Japan and posted slight gains in Hong Kong, China and South Korea.
Risk appetite rally continued to benefit from cautious comments by US Federal Reserve Chairman Jerome Powell this week, even though Thursday's strong US inflation data was a potential complication. Policy makers set policy rates later this month.
Meanwhile, weak data from Singapore and China again warned the global economy of the impact of trade tensions. The reports came after President Donald Trump complained that China had not increased its purchases of American agricultural products, a promise he received at his G-20 meeting with country president Xi Jinping last month the way to its sixth advance in seven sessions, as operators in the Gulf of Mexico prepared for Tropical Storm Barry.
Here are some important events:
USA Producer prices are due on Friday.
Here are the main movements in the markets:
The futures on the S & P 500 index rose 0.2% from 10:14 am London time to its highest ever level. The Stoxx The Europe 600 Index gained 0.2%, the first increase in more than a week. The British FTSE 100 Index gained 0.3%, the first increase in more than a week. The MSCI Asia Pacific Index fell 0.1%. The MSCI Emerging Market Index fell 0.2%.
The Bloomberg Dollar Spot Index fell 0.1%, its lowest level in more than a week. The British pound rose 0.1% to $ 1.2536, the strongest in more than a week. The Japanese yen rose 0.1% The euro gained 0.1% to $ 1.2265, the strongest in more than a week.
The 10-year government bond yield rose by one basis point to 2.14. Germany's 10-year yield improved by three basis points to -0.19%, reaching its highest value in six weeks. The 10-year Yr rose by one basis point to 0.845%, the highest level in more than three weeks.
Gold rose 0.2% to $ 1,407.28 an ounce. West Texas Intermediate crude rose 0.8% to $ 60.70 a barrel in more than seven weeks.
– With support from Adam Haigh.
Contacting the reporter on this story: Laura Curtis in London at firstname.lastname@example.org
Contacting editors responsible for this story: Samuel Potter at email@example.com, Todd White
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