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Global stocks start the weekly trading on a recovery

27 Jun 2022 12:39 PM

Global stocks extended their bounce at the beginning of the weekly trading, benefiting from the strong gains recorded by US stocks last Friday.

This comes at a time when risk appetite has improved somewhat on the back of lower oil prices which helped calm inflation fears, as well as China starting to ease restrictions imposed due to the outbreak of the COVID-19.

The MSCI global stock index rose 0.5%, and this is the third consecutive session in which the index recorded a consecutive rise. And despite the strong three-day recovery that helped the MSCI World Index recover from the November 2020 lows hit earlier this month, the index is still more than 20% down from a record close in January.

The Eurostoxx added more than 1% as the easing of restrictions in China boosted oil stocks and mining companies. Meanwhile, the US stock index futures extended gains with the S&P 500 index rising about 0.6%.

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