Picture used for illustrative purpose. File
European shares marked a two-week high on Thursday, due to a handful of strong earnings, an increment in Wall Street stock futures as Joe Biden takes the lead on the race for the White House.
In its fifth day of rising, the pan-European STOXX 600 index advanced 0.6%, its highest since Oct. 20.
Stocks from tech are ready to take the lead as the possibility of gridlock in US Congress leaves investors hopeful that tight regulations might be hard to enact.
UK's FTSE was flat, with sterling on the rise after the Bank of England increased its already huge bond-buying stimulus by a bigger-than-expected 150 billion pounds ($195 billion).
Asian shares climbed Thursday after stocks rallied on Wall Street as investors for gridlock in Washington, propelling the S&P 500 index by 2.2% while awaiting the result of the US presidential election.
In the lead is Hong Kong’s benchmark advancing by 2.6%, shares in Tokyo and South Korea also gained by more than 1%.
The Hang Seng in Hong Kong was at 25,532.56 while Tokyo's Nikkei 225 index climbed 1% to 24,105.28. South Korea's Kospi jumped 2.1% to 2,405.99. In Australia, the S&P/ASX 200 gained 0.9% to 6,139.60. The Shanghai Composite index rose 0.9% to 3,307.17.
The S&P had a good start rising by 2.2%, its best day in five months. The benchmark index advanced at 3.5% before the market lost its momentum at the end of the day.
The Dow added 1.3% to 27,847.66. The Nasdaq gained 3.9% to 11,590.78.
The pan-European STOXX 600 gained 0.5%, building on a 5% rally this week as investors bought into utilities as well as travel-related stocks. Asian shares rose on Wednesday after the announcement of a COVID-19 vaccine that is more than 90% effective.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.06% to 609.41, which is near its January 2018 high of 617.12. The pan-European STOXX 600 index fell 0.6%, taking some shine off gains of more than 13% this month.
The pan-European STOXX 600 fell 0.3% after gaining at the beginning of the week. In the last two weeks, the index has advanced by 12%. MSCI's broadest index of Asian shares outside Japan edged up 0.1%, reversing earlier losses. For the week it rose to about 0.7%.
Brent crude futures for June declined 29 cents, or 0.4%, to $66.28 a barrel at 06:45 GMT while US West Texas Intermediate (WTI) crude futures for June fell 34 cents, or 0.5%, to $62.33 a barrel.
Spot gold was up 0.5% to $1,786.80 per ounce at 06:57 GMT while US gold futures gained 0.5% to $1,786.90 per ounce.
Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, stated that the department has enhanced the stature of the UAE, in general, and Sharjah, in particular,