{"id":112888,"date":"2021-02-15T13:57:55","date_gmt":"2021-02-15T13:57:55","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112888"},"modified":"2021-02-15T13:57:55","modified_gmt":"2021-02-15T13:57:55","slug":"global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions\/","title":{"rendered":"Global shares hit fresh peak, oil up on Middle East tensions"},"content":{"rendered":"

LONDON (Reuters) – Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.<\/p>

Slideshow ( 3 images )<\/span><\/figcaption>

As more people are vaccinated across key markets such as the United States, and with U.S. President Joe Biden looking to pump an extra $1.9 trillion in stimulus into the economy, the so-called reflation trade has gathered steam in recent days.<\/p>\n

On Friday, The Cboe Volatility Index, known as Wall Street\u2019s \u201cfear gauge\u201d, ended at its lowest level for nearly a year, helping drive a 0.4% gain for MSCI\u2019s broadest measure of world stocks on Monday.<\/p>\n

Taking its cue from a stronger, albeit holiday-thinned, Asian session, Europe\u2019s major indexes were a sea of green in early deals, with Britain\u2019s FTSE 100 up 1.5%.<\/p>\n

With China and Hong Kong markets closed for the Lunar New Year holiday, Japan\u2019s Nikkei led the way, climbing 1.9% to reclaim the 30,000-point level for the first time in more than three decades.<\/p>\n

E-mini futures for the S&P 500 were also higher, up 0.4%, although U.S. stock markets will be closed on Monday for the Presidents Day holiday.<\/p>\n

Later in the week, all eyes will be on the release of minutes from the U.S. Federal Reserve\u2019s January meeting, where policymakers decided to leave rates unchanged, for hints to the likely direction of monetary policy.<\/p>\n

Those concerned about the impact of market exuberance on the outlook for inflation will also have fresh data to parse, with Britain, Canada and Japan all due to report. Friday will also see major economies, including the United States, release preliminary February purchasing managers\u2019 indexes (PMI).<\/p>\n

\u201cWe believe investors should prepare for bouts of volatility ahead, but regard them as opportunities rather than threats,\u201d said Mark Haefele, chief investment officer at UBS Global Wealth Management. \u201cWe recommend investors stick to their long-term financial plans, and continue to put excess cash to work.\u201d<\/p>\n

Oil joined equity markets in pushing higher, reaching its highest level since January 2020 on hopes U.S. stimulus will boost the economy and fuel demand and after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group.<\/p>\n

Brent crude rose 1.3% to $63.24 a barrel. U.S. crude oil gained 1.8% to $60.54, just off earlier highs.<\/p>\n

With risk assets in favour, safe havens dipped, with gold down 0.2% to $1,819 an ounce. Germany\u2019s 10-year Bund yield rose 4 basis points to a 5 1\/2-month high at -0.376% and 30-year bond yields, up 20 bps so far this month, rose to an eight-month high at 0.13%. They had traded in negative yield territory earlier this month.<\/p>\n

The dollar remained near two-week lows as traders took a more cautious view of the pace of the U.S. economy\u2019s rebound. Against a basket of currencies it was last down around 0.1%.<\/p>\n

Bitcoin, meanwhile, recovered some of its overnight weakness to trade down 1.4% at $47,984.96, below a record high of $49,714.66.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) – Global shares rose for<\/p>\n","protected":false},"author":3,"featured_media":112887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nGlobal shares hit fresh peak, oil up on Middle East tensions - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global shares hit fresh peak, oil up on Middle East tensions - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"LONDON (Reuters) – Global shares rose for\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-15T13:57:55+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/cnewsfotor1-4.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions\/\",\"url\":\"https:\/\/precoinnews.com\/business\/global-shares-hit-fresh-peak-oil-up-on-middle-east-tensions\/\",\"name\":\"Global shares hit fresh peak, oil up on Middle East tensions - 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