U.S Pulls Back On Charge Switzerland, Vietnam Manipulate Currency

Stock markets rose around the world on Friday as strong economic data out of China fuelled optimism over the global economic recovery.

London’s benchmark FTSE 100 index climbed above 7,000 points for the first time since February 2020, or just before the coronavirus pandemic took hold worldwide.

“This represents a massive milestone in recovering from the terrible pandemic and shows how investors’ confidence hascompletely changed since just over a year ago,” noted Russ Mould, investment director at AJ Bell.

“The market was understandably shocked as the coronavirus gripped the world but… it has quickly focused on the future and the ability for corporate earnings to recover.”

Shares in miners and oil producers were scooped up Friday on news that China’s economy — the world’s second biggest after the US — expanded at a record pace in the first quarter.

China saw expansion of 18.3 percent in the first quarter, boosted by a sharper-than-expected increase in retail sales.

The economic growth figure was the highest since records began three decades ago, enhanced by its chronically weak comparison figure from last year, though the reading was slightly below forecasts in a survey.