Global stocks rally on economic data, easing conflict fears

By Elysse Morgan

London‘s FTSE 100 added 1 per cent to 6,633, while the main indices in Europe averaged gains of 1. 5 per cent, led by the DAX, which rose 2 per cent.

Global stocks rallied overnight as traders remained buoyed by improving economic data and easing fears over conflicts around the world.

It is expected to pick up again though, as the recent string of strong US economic data, including growth and jobs, is expected to force the US Federal Reserve into raising its interest rates.

The local share market was set to rise at the beginning of trade. The ASX SPI 200 was 0. 4 per cent higher at 5,415 about 7:00am AEST.

It was a quiet night for data, results and geo-political events so the market lacked direction, and NAB strategist Emma Lawson expects it to continue.

Oil prices rose slightly, West Texas crude oil closed at $US98. 04 a barrel and in Singapore Tapis crude was worth $US106. 96 a barrel.

The Dow Jones rose just 0. 1 per cent to 16,567 and the S&P 500 finished 0. 3 per cent higher at 1,937.

Read more here: ABC


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