Global shares edged up on Friday, reversing three days of losses, as investors clung to hopes of economic recovery ahead, while German and British 10-year bond yields touched multi-month highs, spurred by bets of reflation in the United States.
A gauge of global equity markets snapped a three-day losing streak to inch higher on Friday as investors sold technology shares and rotated into economically sensitive cyclical stocks in anticipation the U.S. economy will boom on pent-up demand once the coronavirus pandemic.
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NEW YORK (Reuters) - A gauge of global equity markets fell for a third straight session on Thursday, dragged lower by weakness on Wall Street on views the market has climbed too high to soon, while a rise in weekly jobless claims pointed to a fragile recovery in the U.S. labor market.
FILE PHOTO: A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. REUTERS/Shannon Stapleton/File Photo
Investors took profits on technology shares and other segments that have risen sharply.
Oil prices erased early gains, with Brent retreating from a 13-month high above $65 a barrel as buying spurred by concerns that a rare cold snap in Texas could disrupt U.S. crude output for days or even weeks petered out.
The World Bank is taking an "extra cautious" stance toward future engagement with Myanmar after the country's military seized power but is continuing to execute existing projects there, World Bank President David Malpass said on Thursday.