Global shares hit a two-week high on Monday as favorable U.S. jobs data whetted risk appetites, while sterling brushed off the resignation of two ministers over Britain’s departure from the European Union as traders focused on the likelihood of a “soft Brexit”.
The MSCI world equity index .MIWD00000PUS, which tracks shares in 47 countries, rose 0.4 percent, while the pan-European STOXX 600 index was up 0.6 percent, led by a strong rise across mining stocks.
The pound regained ground after an earlier wobble after news broke that Brexit Secretary David Davis and Minister Steven Baker had resigned in opposition to British Prime Minister Theresa May’s plan for leaving the EU.
Sterling GBP=D3 hit its highest level since June 14, up 0.4 percent at $1.3344. Britain’s FTSE .FTSE gained 0.3 percent.
The move came just two days after a meeting at May’s Chequers country residence supposedly sealed a cabinet deal on Brexit and underlines the deep divisions in her ruling Conservative Party over the departure from the EU.
Related posts:
Global stocks, dollar up slightly as pivotal week for markets gets underway
Global food prices hit record high in 2022 amid Russia’s invasion of Ukraine
UK financial regulator bans crypto exchange Binance as global crackdown spreads
World stocks peak at start of Fed-fueled week
Dollar rally falters, global stocks rise with taxes in focus
Global stocks eye second best start to a year on record
Market Update: Italian Political Crisis Sinks Global Stocks
Contributions to CACOVID relief fund hit N15 billion
