Global stocks, oil lead risk rally on U.S. stimulus hopes

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Islam News – Global shares rose for the fourth straight day on Tuesday and oil followed suit as hopes of fresh U.S. stimulus teed up a strong end to the year for riskier , as Reuters agency reported.

The MSCI World Index was up 0.3%, extending recent gains after gains in Asia, where Japanese stocks hit a 30-year high. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.45%.

Early gains in Europe were broad-based, with all major indexes rising, led by Britain’s blue-chip shares. They rose on their first day of trading since the Christmas Eve agreement of a trade deal with the European Union.

The FTSE 100 rose 1.5% in early deals, on course for its fourth straight day of gains, led by drugmaker AstraZeneca on news its COVID-19 vaccine is set to be granted emergency use approval within a few days.

The launch of the EU’s vaccination programme, hoping to end the widespread lockdowns that have stalled economies across the bloc, also bolstered risk appetite, led by beaten-down travel and leisure stocks, up 2.4%.

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