Stocks Rack up Records, Dollar Sings Blues

World stocks remained on course for their best month ever on Friday as recent vaccine progress, Joe Bidens U.S. presidential election win, hopes for further stimulus, a commodity surge and a weak dollar all lifted the spirits.

European markets had a touch of caution ahead of a barrage of economic data and as questions emerged over trial data on AstraZenecas COVID19 vaccine, but that wasnt going to derail a November to remember.

Germanys, Frances, Italys and Spains main bourses all squeezed out gains and government bond yields stayed lows after the European Central Bank reinforced expectations of further stimulus next month.

Londons FTSE was fractionally lower with some lastminute Brexit nerves, but with Wall Street pointing to a postThanksgiving rise MSCIs main world index was readying another alltime high.

Risk sentiment is in reasonable nick because weve got vaccines and easy money, said Societe Generale strategist Kit Juckes. That is the underpinning of optimism.

It hadnt been all good news overnight. Australian shares ended down 0.5 and Treasury Wine Estates was whacked 11.25 as China slapped new tariffs on Australian wine, the latest move in the countries longrunning trade spat.

But shares in China still rose 0.1 after data there showed industrial profits surged at the fastest pace since early 2017. South Korean stocks and Japans Nikkei both rose 0.3 too, albeit in choppy trade.

British drugmaker AstraZenecas coronavirus drug was touted as a vaccine for the…

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