Sun. Jan 16th, 2022

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World stocks at record high

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Global stock markets

World stocks edged closer to recent record highs and Asian shares hit a record peak on Wednesday, as investors bet on a strong economic recovery next year, with the upbeat mood pushing the safe-haven dollar to its lowest since April 2018.

Europe’s main markets were hoping for a sixth straight session of gains as AstraZeneca and Oxford University’s coronavirus vaccine became the second to be approved by Britain, helping the FTSE 100 add as much as 0.2% early on.

A new, more transmittable variant of the virus is spreading rapidly but European Union countries have also begun rolling out Pfizer and BioNTech’s vaccine this week.

Wall Street was set to open higher, too, with S&P 500 futures up 0.4%. U.S. stocks had retreated from an intraday record high on Tuesday after Senate Majority Leader Mitch McConnell had put off a vote on President Donald Trump’s call to increase COVID-19 relief checks.

MSCI’s world stocks index remained upbeat, however, up 0.2% and within touching distance of the record highs it had set on Tuesday.

The index is up 14% this year and nearly 70% from its March lows, boosted by trillions of dollars in global economic stimulus and hopes that coronavirus vaccines will re-open locked-down economies.

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