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NEW YORK (Reuters) - Global equity markets surged on Thursday, with U.S. and European benchmark stock indexes setting record highs, on the back of the strongest manufacturing data around the world in decades and a drop in bond yields that lifted big tech shares.
FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., March 29, 2021. REUTERS/Brendan McDermid
U.S. President Joe Biden’s sweeping $2.3 trillion plan to rebuild America’s crumbling infrastructure added to investor enthusiasm, as did accelerating vaccine rollouts.
The dollar fell, easing off nearly three-year highs in the first quarter, while oil rose before a meeting of the Organization of Petroleum Exporting Countries and allies that was expected to keep supply tight.
By Reuters Staff
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LONDON (Reuters) - Euro zone monthly factory activity growth galloped at its fastest pace in the near 24-year history of a leading business survey last month, but supply chain disruptions and renewed lockdowns in the region may rein it in soon.
FILE PHOTO: A woman works at MTA factory in Codogno, one year after the small northern town became Europe s coronavirus disease (COVID-19) epicentre, in Codogno, Italy, February 10, 2021. Picture taken February 10, 2021. REUTERS/Flavio Lo Scalzo
With Europe suffering a third wave of coronavirus infections, governments have re-imposed tough controls on their citizens, hurting the bloc’s dominant service industry and leaving it to manufacturers to drive the economic recovery.
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LONDON/TOKYO (Reuters) -Factories across Europe and Asia ramped up production in March as a solid recovery in demand helped manufacturers move past the setbacks of the pandemic, although escalating costs and supply- chain disruptions were creating challenges and driving prices.
FILE PHOTO: An employee of Sanko Manufacturing Co. conducts shipping operations of the company s ventilators at the factory as the spread of the coronavirus disease (COVID-19) continues in Saitama, north of Tokyo, Japan May 8, 2020. REUTERS/Issei Kato
A series of upbeat factory surveys released on Thursday reinforced market optimism that vaccine rollouts, as well as strong growth in global powerhouses like the United States and China, would help economies emerge from their sharp downturns of 2020.
World stocks ran higher on Thursday following their slowest quarter in a year, as U.S. economic strength offset the return to strict COVID-19 lockdown measures in parts of Europe and elsewhere..
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