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LONDON (Reuters) – Global shares rose for the 11th day in a row to reach a fresh peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high. Slideshow ( 3 images ) As more people are vaccinated across key markets such as the United States, and with U.S. President Joe Biden looking to pump an extra $1.9 trillion in stimulus into the economy, the so-called reflation trade has gathered steam in recent days. On Friday, The Cboe Volatility Index, known as Wall Street’s “fear gauge”, ended at its lowest level for nearly a year, helping drive a 0.4% gain for MSCI’s broadest measure of world stocks on Monday. Taking its cue from a stronger, albeit holiday-thinned, Asian session, Europe’s major indexes were a sea of green in early deals, with Britain’s FTSE 100 up 1.5%. With China and Hong Kong markets closed for the Lunar New Year holiday, Japan’s Nikkei led the way, climbing 1.9% to reclaim the 30,000-point level for the first time in more than three decades. E-mini futures for the S&P 500 were also higher, up 0.4%, although U.S. […]
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