Chinese shares charged to their highest level in five years, as European markets stalling took some traders by surprise
London — World shares edged towards a four-month high on Friday and industrial bellwether metal copper was set for its longest weekly winning streak in nearly three years, as recovering global data kept nagging coronavirus nerves at bay.
Currency and commodity markets also had a subdued feel after an otherwise strong week for confidence-sensitive stalwarts such as oil, copper, sterling and the Australian dollar, which all struggled on Friday. The euro was down at $1.1226 and though it gained against the safe Swiss franc it fell against the sometimes commodity-driven Norwegian crown.
The recovery also faces more headwinds as a surge of new coronavirus infections prompts US states to delay and in some cases reverse plans to let stores reopen and activities resume. More than three dozen US states saw increases in Covid-19 cases, with cases in Florida spiking above 10,000. Oil prices also eased after an otherwise solid week. Brent crude fell 0.65% to $42.86 a barrel while US crude dropped 0.66% to $40.38 a barrel. Both were about $25 this time two months ago.
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