Robust earnings boost equity markets

October, brutal month

Robust corporate results helped world stock markets surge on Wednesday, bringing some relief to jittery investors after a brutal October sank equities with one of their worst drops since the financial crisis 10 years ago.

Strong earnings reports in the United States and Europe spurred a broad rally, despite data showing that China’s factory growth slowed to its lowest in two years. Investors rushed into the U.S. dollar, sending it to a 16-month high while the offshore Chinese yuan languished at a 22-month low.

The MSCI world equity index, which tracks shares in 47 countries, rose 1.3 percent, but remains down 7.3 percent in October, its biggest monthly decline since 2012. The index has dropped approximately 11 percent from all-time highs hit in January.

https://www.reuters.com/

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