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Global stocks climb to five month high

Credit: Reuters Studio
Published on March 18, 2019 - Duration: 01:21s

Global stocks climb to five month high

Global stocks rose to their highest in five months and the dollar dipped on Monday as traders began to price in an accommodative stance from the U.S. Federal Reserve at its policy meeting this week.

Francis Maguire reports.

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Global stocks climb to five month high

Global stocks rose to their highest level in five months on Monday, As traders priced in a dovish interest rate stance from the U.S. Federal Reserve.

Ahead of its policy meeting later this week.

Europe kept up its run of gains - The pan-European STOXX 600 rose 0.3 percent, hitting a five-month high.

That was driven by a jump in shares at Deutsche Bank and Commerzbank, After the German lenders confirmed merger talks.

(SOUNDBITE) (German) HEAD TRADER AT CLOSE BROTHERS SEYDLER, OLIVER ROTH, SAYING "The week is expected to be a positive one for the Dax.

We have seen a stabilisation on a high level over the last days.

The reason for that is mostly the low interest rate policy of the ECB.." With signs of global growth slowing, Traders were focused on Wednesday's upcoming meeting at the Federal Reserve.

With the talk being Fed policymakers could lower their interest rate forecasts, To show little or no further tightening this year.

One faller on Monday was Pound Sterling, Down 0.4 percent to $1.32... as doubts rise British Prime Minister Theresa May can get her Brexit deal through parliament at the third attempt.

Asian shares performed ahead of the Fed's meeting - Japan's Nikkei rose 0.6 percent, And China's Shanghai Composite also gained 1.3 percent.

Oil prices were just off their highest for the year so far.

Brent crude futures lost 0.4 percent, down to $66.88.

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