Global shares hit 2016 high, FX hit by Singapore sting

(From Reuters)

World stocks rose to their highest level in more than four months on Thursday and the dollar chalked up a third day of gains as markets took a positive view ahead of top policymaker and oil producer meetings.

MASSingapore set the tone for the World Bank and International Monetary Fund spring meetings, to be held this week in Washington, as its normally conservative central bank unexpectedly eased policy.

European shares added to Wednesday’s substantial gains, though U.S. stock index futures ESc1 1YMc1 pointed to a modestly lower open on Wall Street.

The Bank of England kept interest rates on hold, as expected, but sterling GBP=D4continued to suffer worries over how a June vote on Britain’s EU membership will play out.

Oil prices initially fell as OPEC warned of slowing demand and Russia hinted that there might only be a loose agreement on output levels at an exporter meeting in Doha at the weekend. Brent crude LCOc1 later recovered.

The dollar, in which most commodities are priced, flexed its muscles again having just chalked up its biggest one-day gain in over a month. [FRX/] Read more



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