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GLOBAL MARKETS-Stocks rally as global selloff abates, bonds fall
2014年10月17日 / 晚上8点24分 / 3 年前

GLOBAL MARKETS-Stocks rally as global selloff abates, bonds fall

* European shares surge in biggest percentage gain in two
    * Corporate earnings, fresh data spur stocks on Wall Street
    * Crude oil bucks downward trend to eke out small gain

 (Adds close of U.S. markets)
    By Herbert Lash
    NEW YORK, Oct 17 (Reuters) - World equity markets rallied,
with European stocks surging the most in more than two years,
and bond prices slid on Friday as investors poured back into
beaten-down markets on solid U.S. corporate earnings and rising
consumer sentiment.
    Wall Street followed Europe's lead, with all major stock
indexes climbing more than 1 percent after earnings reports
eased concerns about the impact of weak global demand on U.S.
growth and businesses.
    Expectations among some investors that the European Central
Bank will increase stimulus also buoyed sentiment.
    Results at General Electric, Honeywell International
Inc and Morgan Stanley topped expectations. GE
rose 2.4 percent, Honeywell gained 4.2 percent and Morgan
Stanley advanced 2.1 percent.
    With 81 companies in the S&P 500 already reporting
third-quarter results, 64.2 percent have beaten expectations, a
rate slightly below the average over the past four quarters but
better than the past 20 years.
    U.S. housing starts and permits rose in September, a sign
the market's modest recovery is supporting a growing economy,
while U.S. consumer sentiment rose in October to the highest in
more than seven years. 
    Despite the rally, the S&P 500 posted a fourth straight
weekly decline, its longest streak in more than three years. The
U.S. benchmark is down more than 6 percent from a record high in
September as concerns about the global economy, a resurgent
European debt crisis and the Ebola virus sparked the downturn. 
    "The reaction the market has had over the past couple of
weeks is a bit overdone," said David Lafferty, chief market
strategist at Natixis Global Asset Management, which oversees
$930 billion in assets.
    "The overall trend of the market is to grind higher on
earnings but the real flashpoint for risk assets is going to be
the ECB," Lafferty said, referring to whether it can increase
its stimulus.
    MSCI's all-country world index rose 1.22
percent while the FTSEurofirst 300 index of top
European shares closed up 2.76 percent at 1,280.17, its biggest
single-day percentage gain since June 2012.
    The Euro STOXX 50 index of 50 European companies
rose 3.1 percent in the biggest jump in almost 18 months, shy
two-hundredths of a percentage point of being the biggest
single-day jump since September 2012.
    The Dow Jones industrial average closed up 263.17
points, or 1.63 percent, to 16,380.41. The S&P 500 rose
24.00 points, or 1.29 percent, to 1,886.76 and the Nasdaq
Composite added 41.05 points, or 0.97 percent, to
    For the week, the Dow and S&P 500 both fell 1 percent while
the Nasdaq lost 0.4 percent.
    The U.S. dollar edged higher. The euro was last down
0.37 percent at $1.2759, just off a session low of $1.2755. The
dollar was up 0.54 percent against the yen at 106.89 yen.
    Brent crude rose above $86 a barrel, bouncing from near
four-year lows as investors bought back into a market they said
was oversold, and as fighting in Iraq increased political risk.
    Brent for December rose 34 cents to settle at $86.16
a barrel. U.S. November crude settled up 5 cents at
$82.75, posting its third weekly decline.
    U.S. Treasuries prices posted their second straight day of
    Benchmark 10-year notes, up as much as three
points on Wednesday on fears over the global economy, were off
12/32 in price on Friday to yield 2.1971 percent.

 (Additional reporting by Marc Jones in London; Editing by Hugh
Lawson, Chris Reese, Nick Zieminski and James Dalgleish)

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