The euro advanced for the first day in three and European stocks edged higher as the global growth story gained momentum. Treasuries steadied after Wednesday’s drop, while gold advanced.
Retailers and technology companies led the increase that stretched across most sectors in Europe, while the single currency climbed against most of its major peers after a recent pullback. The dollar held on to the previous day’s gains and 10-Year Treasury yields were steady at near 2.6 percent amid speculation Congress will avert a government shutdown. West Texas oil was flat as OPEC shows determination to curb production.
Gains in the European equity market came after Chinese shares in Hong Kong added to their 2018 surge thanks to better-than-expected growth data. That’s only added to the narrative of synchronized global expansion, which -- alongside upbeat profit expectations -- could mean the bull run in stocks going until 2019 or beyond, according to a Bank of America survey of fund managers.
Elsewhere, Bitcoin steadied above $10,000 after a day of wild swings. Emerging-market stocks gained a fifth day.
The Stoxx Europe 600 Index gained 0.1 percent at 398.41 as of 8:27 a.m. London time.
The euro advanced 0.2 percent to $1.2208.
Source : Bloomberg