European stocks, Asian shares rise
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Gulf Today Report
European stocks rose on Thursday after a report of upbeat earnings and the US Federal Reserve’s monetary policy pledge.
The pan-European STOXX 600 index rose 0.5% to 442 points, marginally below its record peak of 443.61.
On the other hand, global stock markets took heart as the US central bank Chair Jerome Powell on Wednesday said "it is not time yet" to begin discussing any change in monetary policy with so many workers still left jobless by the pandemic.
"The majority of the reported firms sound constructive on the outlook for the remainder of the year," European equity strategists at Barclays wrote in a note, adding that the high expectations, however, have been priced in.
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Asian shares
Asian shares gained on Thursday after President Joe Biden outlined his administration’s plan for jobs, early education, child care and other public services.
Shares rose in Hong Kong, Shanghai, Seoul and Sydney. Bond yields held steady while Oil prices advanced.
On Wednesday, Joe Biden delivered a speech unveiling some of his $1.8 trillion plans.
Investors are also keeping an eye on US growth data scheduled for release later In the day.
