Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.
Global shares
- MSCI’s broadest index of Asia-Pacific shares added over 8 percent. In February, the index rose 1.3 percent.
- The pan-European STOXX 600 index was up 0.4 percent.
- E-mini futures for the S&P 500 index of U.S. stocks were up 0.3 percent in London.
- Australian shares rose 0.4 percent
- Hong Kong’s Hang Seng index added 0.7 percent.
U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.
Currency Market
- The dollar index rose against a basket of major currencies to its highest in a week. It was last higher 0.1 percent at 96.604.
- The euro fell to its lowest in a week, down 0.25 percent on the day at $1.1339.
- The Australian dollar, a liquid proxy for risk hedges, gained, but disappointing domestic data curbed the gains. The currency was last at $0.7076, after earlier rising as high as $0.7118.
Commodities
- Oil prices gained on Monday with Brent futures up 0.7 percent at $65.53 a barrel.
- US Crude rose 0.6 percent to $56.12.
