GLOBAL MARKETS-Global stocks take a breather as they enjoy their November reign

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GLOBAL MARKETS-Global stocks take a breather as they enjoy their November reign




A person displays stock data on his mobile at a restaurant in Taipei, Taiwan.


© Reuters/Ann Wang
A person displays stock data on his mobile at a restaurant in Taipei, Taiwan.


By Marc Jones

LONDON, Nov 17 (Reuters) – Global equity markets were taking a well-deserved respite on Tuesday after the second major boost from coronavirus vaccines in a week sent them raking up again, leaving Europe on the way. to its best month in nearly three decades.

* The pan-European STOXX 600 Index was down 0.2%, but there was little sign that the bullish streak in November was ending, a month in which sentiment-sensitive commodities and emerging markets also rose.

* The MSCI World Stock Index was hovering around record highs after climbing 11% this month, while the yuan hit a nearly two-and-a-half-year peak in currency markets and the dollar continued to weaken.

* The latest push in the markets was the work of Moderna, who said Monday that its experimental vaccine against COVID-19 was 94.5% effective in preventing infection, according to late-stage interim data.

* MSCI’s broader index of Asia Pacific stocks excluding Japan was up 0.2% a day after hitting its highest since its launch in 1987.

* Japan’s Nikkei 225 gained 0.4% after hitting its 29-year high yesterday, but Chinese leading stocks fell on recent bond defaults that hurt sentiment.

* “The market is assuming that we can see the end of the tunnel, that in 2022 a large part of the world’s population will start to have access to vaccines,” said HSBC’s Herald van der Linde.

* The positive news on vaccines helped crude oil prices continue to extend their 16% gains for the month, with a slight increase in the session.

* In foreign exchange markets, the increase in cases of the virus in the United States clouded the outlook for the dollar, which was down against a basket of six prominent currencies.

GRAPHIC: Emerging Markets http://tmsnrt.rs/2ihRugV

CHART: MSCI Global Stock Index http://tmsnrt.rs/2EmTD6j

Exchange rates in the world http://tmsnrt.rs/2hzquG7

Asset performance in the year http://tmsnrt.rs/2szi3CI

GRAPH-Tracking the pandemic https://tmsnrt.rs/34FwqbC

Moderna’s Vaccine Success Raises Hopes Of Defeating COVID-19

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(Additional reporting by Yoruk Bahceli in London and Alun John in Hong Kong; edited in Spanish by Carlos Serrano)

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