News Column

Global stocks rise

June 30, 2014



LONDON, Ramadan 2, 1435, Jun 30, 2014, SPA -- Global stocks rose on Monday, on track for their fourth straight quarter of gains, as investors bet that a raft of U.S. and European economic data due this week will soothe recent worries over the pace of growth, Reuters reported.



MSCI's world equity index, which tracks shares in 45 countries, rose 0.15 percent. It has risen over 4 percent this quarter, aided by the prospect that monetary policy in the major economies will remain accommodative for longer.



European stocks rose, with the FTSEurofirst 300 index of top European shares up 0.3 percent at 1,375.49 points, steadying after a 1.7 percent slide last week.



Investors will focus on euro zone inflation data for June, due at 0900 GMT, which should show inflation stuck at 0.5 percent, its ninth consecutive month in the European Central Bank's "danger zone" below 1 percent.





In commodity markets, gold was steady at $1,315.40 an ounce, underpinned by geopolitical unrest in Iraq and Ukraine and a soft dollar. The safe-haven yen was at a five-week high against the dollar at 101.35 yen per dollar.



Brent crude oil lost 42 cents to 112.88 a barrel, while U.S. crude futures fell 49 cents to $105.25. Oil prices have come off recent highs as fighting in Iraq stayed away from the country's south, where most of its oil is produced.

--SPA

12:12 LOCAL TIME 09:12 GMT



All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info).


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Source: Saudi Press Agency (Saudi Arabia)


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