Global stocks extend eight-day winning streak; dollar declines

Bloomberg

Global stocks pushed forward on an eight-day winning streak on the heels of positive corporate news, improving virus trends and US stimulus plans.
The MSCI World Index gained 0.2%, the longest advance since November. French investment bank Natixis SA surged 8% after financial group BPCE SA offered to buy out minority shareholders. Tencent Holdings Ltd. drove strong gains in Asia as the company won Chinese regulatory approval to roll out a blockbuster game.
Outside of equities, the moves were more muted. The dollar edged lower ahead of a report on US consumer prices. While the reading is expected to be tepid, inflation has become the biggest issue in markets with investors counting on a smooth vaccine roll out as central banks continue to lavish aid on the economy. Yields on the 30-year Treasury are holding at 1.9% after crossing the 2% threshold earlier this week.
Elsewhere in markets, platinum rallied to a six-year high on expectations it will benefit from tight supplies, investment demand and the global recovery. Oil was little changed after the longest run of gains in two years. Bitcoin fluctuated after easing back from a peak sparked by Tesla Inc.’s investment in the cryptocurrency.
Futures on the S&P 500 Index gained 0.2% as of 8:29 am London time and the Stoxx Europe 600 Index increased 0.1%.
While the MSCI Asia Pacific Index rises 0.7%, the MSCI Emerging Market Index rose 0.9%. The Bloomberg Dollar Spot Index sinks 0.1% to 1,123.68 and the euro rises 0.1% to $1.2131.
While the British pound gained 0.1% to $1.383, the Japanese yen was little changed at 104.57 per dollar.
The yield on 10-year Treasuries declined less than one basis point to 1.16% and the yield on two-year Treasuries was unchanged at 0.12%.
While Germany’s 10-year yield rises less than one basis point to -0.44%, Britain’s 10-year yield climbed one basis point to 0.473%. West Texas Intermediate crude dipped 0.1% and gold strengthened 0.3% to $1,843.12 an ounce.