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Global Shares Rise On Recovery Hope

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Stock markets have risen after encouraging service and manufacturing data in Europe boosted confidence in the global economic recovery.

The closely-watched purchasing managers index rose to 56.7 in July from 56 in June, a bigger-than-expected jump.

US stocks gained 1.9% in morning trade, while Paris closed 3% and Frankfurt 2.5% higher, with London gaining 1.9%.

The news came as a contrast to downbeat comments by the US Federal Reserve's Ben Bernanke on Wednesday.

The Dow Jones index fell 1% in Wednesday's session after Mr Bernanke warned that the country's economic outlook remained "unusually uncertain".

He said record low interest rates would still be needed to support the economic recovery.

'Good start'

Both constituents of the PMI index, compiled by data provider Markit, rose in July.

The service sector index rose to 56 from 55.5 in June, while the manufacturing index rose from to 56.5 from 55.6. Any score over 50 indicates growth.

The good news recovery gathers pace.

Things can only get better.

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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