Global stocks rally

Malta Independent - - FINANCIAL - Fi­nan­cial news com­piled by BOV Group This ar­ti­cle was com­piled by Val­letta Fund Man­age­ment Lim­ited, a mem­ber of the BOV Group.Val­letta Fund Man­age­ment,TG Com­plex, Suite 2, Level 3, Brew­ery Str., Mriehel BKR 3000 Freep­hone: 80072344. E-mail: in­fovfm@bov.co

On Mon­day global stocks ral­lied with com­modi­ties and the Mex­i­can peso on spec­u­la­tion Hil­lary Clin­ton’s chances of a U.S. elec­tion win in­creased af­ter the Fed­eral Bureau of In­ves­ti­ga­tion stuck to its find­ing that her han­dling of e-mails wasn’t a crime. De­mand for havens waned, with high­er­rated bonds, the yen and gold re­treat­ing.

Euro­pean shares re­bounded from a four-month low and Asian equities rose with S&P 500 In­dex fu­tures af­ter the boost for Clin­ton, who is seen by in­vestors as the more pre­dictable pres­i­den­tial can­di­date.

As Tues­day’s elec­tion ap­proaches, fi­nan­cial mar­kets have be­come more po­lar­ized on the can­di­dates’ re­spec­tive chances, with news fa­vor­ing Repub­li­can can­di­date Don­ald Trump tend­ing to weigh on stocks and boost de­mand for havens. U.S. equities fell ev­ery day since FBI direc­tor James Comey’s an­nounce­ment on the 28 Oc­to­ber that the bureau was look­ing into more Clin­ton emails.

The MSCI All Coun­try World In­dex rose 0.3 per­cent as of 10:54 a.m. Lon­don time, and the Stoxx Eu­rope 600 In­dex jumped 1.1 per­cent. HSBC climbed 5 per­cent af­ter post­ing a sur­prise jump in ad­justed profit and a reg­u­la­tory de­ci­sion boosted its key cap­i­tal ra­tio. Banks and min­ers were the big­gest win­ners, as BHP Bil­li­ton Ltd. posted gains.

The MSCI Emerg­ing Mar­kets In­dex rose 1 per­cent, re­bound­ing from a three-month low, as bench­mark gauges in Hong Kong, Tai­wan, Turkey and Poland climb­ing at least 1.2 per­cent.

Oil re­bounded as an earth­quake struck Ok­la­homa Sun­day near the na­tion’s largest crude-stor­age hub, prompt­ing some pipe­line com­pa­nies to shut down op­er­a­tions as a pre­cau­tion. West Texas In­ter­me­di­ate gained 1.6 per­cent to $44.77 a bar­rel.

Gold sank the most in a month, join­ing a slide in other haven as­sets af­ter the FBI state­ment was seen boosting Clin­ton in the fi­nal stretch of the elec­tion cam­paign. Bul­lion for im­me­di­ate de­liv­ery fell 1.3 per­cent to $1,288.53 an ounce. Sil­ver lost 0.8 per­cent and plat­inum slid 0.4 per­cent.

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