Stock markets rose on Tuesday to new six-month highs after reassuring data about the health of China’s economy and economic sentiment in Germany helped investors brush aside disappointing bank earnings.
The latest leg higher in a three-month long global rally comes as a degree of calm has descended across financial markets, with European stock volatility falling to its lowest since January 2018, exacerbated by a shortened trading week for the Easter holidays.
The pan-European STOXX 600 topped its strongest since October, and the MSCI world equity index also rose to a new six-month high.
Germany’s DAX extended its gains to rise 0.66 percent after the monthly ZEW survey showed the mood improved among German investors for the sixth consecutive month, while Britain’s FTSE 100 also strengthened.
Wall Street was set to open higher.
The broader moves were tempered, however, after a Reuters story quoted European Central Bank sources expressing doubt about a projected euro zone growth rebound.
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