Shares rise amid hopes of recovery
LONDON: Stocks rose in Europe and bonds and the yen dropped on signs that central banks are confident enough in the strength of the economic recovery to remove stimulus measures. The Australian and New Zealand dollars strengthened.
The Dow Jones Stoxx 600 Index of European stocks added 0.9 percent at 10:35 am in London and futures on the Standard & Poor's 500 Stock Index climbed 0.4 percent. The New Zealand dollar gained against all 16 of the world's major currencies while the Australian dollar advanced against 15. Greek government debt led the decline in European bonds, driving the yield on the 10-year note higher for a sixth day.
The Swiss National Bank said it will halt bond purchases designed to bolster the economy. Australian employment soared for a third month, while US jobless claims may drop for a sixth month to the lowest level since August 2008, economists said before a government report.
