GLOBAL MARKETS-World shares end stellar quarter but still down in 2020

GLOBAL MARKETS-World shares end stellar quarter but still down in 2020

Reuters  | Jul 01, 2020 05:30

GLOBAL MARKETS-World shares end stellar quarter but still down in 2020

* Graphic: World FX rates in 2020
* Oil slips as Libyan oil production likely to ramp up
* Near 19% 2Q gain in world stocks follows 22% 1Q decline

(Updates to U.S. stock market close, adds quarter-end figures)
By Rodrigo Campos
NEW YORK, June 30 (Reuters) - A global stocks index rose on
Tuesday and marked its largest quarterly gain since 2009 as
investors continued to look for signs of an economic recovery
while shrugging off data showing a rising number of COVID-19
The possible return of Libyan oil production, which has been
at a trickle since the start of the year, weighed on crude
World shares .MIWD00000PUS rose 18.7% this quarter, the
biggest quarterly gain in 11 years, but are still down more than
7% so far this year due to a slump of 34% between Feb. 12 and
March 23. The recent gains come as the coronavirus-related lockdowns
that paralyzed the global economy in the first quarter started
to lift and investors bet on pent-up demand powering economies
U.S. consumer confidence rose more than expected in June,
following upbeat housing data on Monday. COVID-19 cases in the United States and globally continue to
rise, however. Dr. Anthony Fauci, the top U.S. epidemiologist,
told a Senate committee on Tuesday that unless Americans wear
masks and recommit to social distancing, the daily case-load
could reach 100,000 from the current 40,000. Some traders said quarter-end flows were also supportive of
stock prices. Following a steep drop in February and March, Wall
Street's S&P 500 ended June with its largest quarterly gain
since 1998. .N
"We are finishing up one of the best quarters in history, so
we wouldn't be surprised to see a little bit of window dressing
taking place on the last day," said Sal Bruno, chief investment
officer at IndexIQ in New York.
The Dow Jones Industrial Average .DJI rose 217.08 points,
or 0.85%, to 25,812.88, the S&P 500 .SPX gained 47.05 points,
or 1.54%, to 3,100.29 and the Nasdaq Composite .IXIC added
184.61 points, or 1.87%, to 10,058.77.
The near 20% quarterly increase on the S&P 500 was its
largest since late 1998.
The pan-European STOXX 600 index .STOXX rose 0.13% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
Emerging market stocks rose 0.11%. Overnight, MSCI's
broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS closed 0.67% higher, while Japan's Nikkei
futures NKc1 lost 0.09%.
Brent crude slipped as traders took profits from the
previous session and Libya's state oil company flagged progress
in talks to resume exports, potentially boosting supply. O/R
U.S. crude CLc1 fell 0.18% to $39.63 per barrel and Brent
LCOc1 was at $41.14, down 1.37% on the day.
The dollar index was in and out of negative territory as
upbeat U.S. and Chinese data left traders torn between optimism
about global growth and fears that the surge in new COVID-19
cases could jeopardize the rebound.
The dollar index =USD fell 0.043%, with the euro EUR=
down 0.06% to $1.1233.
The Japanese yen weakened 0.34% versus the greenback at
107.94 per dollar, while sterling GBP= was last trading at
$1.2398, up 0.83% on the day.
Beijing unveiled the national security law it is imposing on
Hong Kong, setting the stage for the most radical changes to the
former British colony's way of life since it returned to Chinese
rule 23 years ago. "This doesn't improve Hong Kong's status as a financial
center, to say the least, coming back from the protests and the
virus over the last year," said Ilan Solot, FX strategist at
Brown Brothers Harriman in London. "If anything this is a
downward slope for Hong Kong's importance as a global financial

Emerging markets
World financial markets in 2020
Global markets and the tale of two quarters

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.