Global stocks set for best month in over 6 years
uesday March 31, 2009, 4:32 am EDT
LONDON (Reuters) - World stocks looked set on Tuesday to achieve their best
monthly performance in more than six years in March, while commodity prices
also rose and the Japanese yen fell.
The MSCI World index (^MIWD00000PUS - News)
strengthened 0.6 percent and was on course to record its biggest monthly rise
since October 2002. But the global stock index is still down more than 12
percent this quarter after losing 22.7 percent in the October-December period
last year.
"The macro landscape has been stabilizing, which has helped equities
bounce back from historical lows. But to really improve market sentiment, we
need to see the data improving and not just stabilizing," Jacques Henry,
analyst at Louis Capital markets in Paris.
In Europe, the FTSEurofirst 300 (^FTEU3 - News) index advanced 1.8
percent, and UK retailer Marks & Spencer (LSE:MKS.L - News)
soared 10 percent after reporting a smaller-than-feared drop in fourth quarter
underlying sales, lifting other embattled retailers.
The FTSEurofirst 300 is also up for the month, but still down more than 13
percent in the first three months of the year.
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