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Tuesday, November 19, 2019, 18:35
Shares push to 22-month high
By Reuters
Tuesday, November 19, 2019, 18:35 By Reuters

LONDON - World shares touched their highest in nearly two years on Tuesday with the MSCI world equity index, which tracks shares in 47 countries, up 0.1% to touch its highest since January last year.

European shares also moved up, with the broad Euro STOXX 600 adding 0.4% to move to its highest since July 2015. Indexes in Frankfurt and London gained 0.4% and 0.5% respectively.

Wall Street futures indicated a positive start, too, adding 0.2%.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, with Shanghai blue chips gaining 1% and Hong Kong's Hang Seng up 1.4%.

DOLLAR STABILIZES

The listless mood in share markets was reflected by tepid moves among major currencies.

The dollar stabilised against a broad basket of other currencies on Tuesday after three consecutive days of losses, with investors awaiting the release of the minutes of the US central bank meeting at end-October when policymakers had cut interest rates.

The dollar index against six major currencies was little changed at 97.807, close to a two-week low after weakening 0.6% in the last three days.

"Trade headlines are dominating sentiment but in terms of the key event risk, the release of the Fed minutes will be a big one for market participants," said Morten Lund, a senior FX strategist at Nordea.

The British pound settled at US$1.2953 after hitting a one-month high overnight as opinion polls showed Prime Minister Boris Johnson's Conservative Party on course for victory at the Dec 12 election.

In commodities, crude futures fell, losing 0.2% to US$62.29 a barrel, with a combination of jitters over trade and expectations of a rise in US inventories jangling nerves.

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