Global markets at record highs amid stimulus and recovery hopes – business live


Rolling coverage of the latest economic and financial news

7.35am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Global stock markets are continuing to strengthen, with stock prices at record levels.

The global reflation theme continued apace yesterday, and risk assets showed continued strength across multiple asset classes. In fact the MSCI World Index, which includes a range of developed world equities, rose for an 11th straight session, marking the longest winning streak for the index since January 2018.

If it manages to notch a 12th gain today, it’ll become the longest winning run since December 2003, back when Arsenal were on their way to winning the Premier League unbeaten, and before most UK households had internet access.

European Opening Calls:#FTSE 6778 +0.32%#DAX 14116 +0.05%#CAC 5794 +0.14%#AEX 686 +0.10%#MIB 23624 +0.08%#IBEX 8228 +0.29%#OMX 2038 -0.09%#STOXX 3736 +0.05%#IGOpeningCall

FTSE 100 set to jump again

Related: Boris Johnson says ‘very low’ Covid case rate key to easing lockdown

Over 15 million people have received coronavirus vaccine in the UK, and this is giving the government confidence that they can not only achieve their other targets but also ramp up their vaccination process.

In addition to this, if one looks at the number of people losing their lives because of coronavirus along with the hospitalization rate and new people catching coronavirus, all of them have started to drop quite a lot from their recent high.

The MSCI World Index’s historical price-to-earnings ratio is trading at the highest level since the end of 2009 – Bloomberg
*That comes as the gauge posted its 11th straight daily advance Monday, the longest such streak since July of that same year.

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