THE GUARDIAN: Investors bet Covid vaccines and stimulus measures will propel economy forward in 2021
Global stock markets have hit record highs amid rising optimism that Covid-19 vaccines and stimulus measures can turbocharge economic recovery from the second wave of the pandemic.
The MSCI World Index, which tracks stocks across the developed world, reached a new high of 639.33 on Thursday. The index has climbed 16% since the start of November when multiple vaccine breakthroughs were first announced.
Wall Street rallied further to yet again set new records for the US stock market, with the Dow Jones Industrial Average trading above the symbolic 30,000 mark reached last month. European share prices closed at the highest levels since February while the value of bitcoin broke through $23,000 (£16,900) barrier for the first time in a second day of steep gains for the cryptocurrency. Brent crude oil also hit a nine-month high of $51.90 a barrel. » | Richard Partington and Graeme Wearden | Thursday, December 17, 2020
