Global equities staged an impressive turnround this week as a newfound sense of optimism about the financial sector pervaded the market following encouraging comments from several US banks about trading.
Hopes that the US consumer could prove more resilient than feared offered a further buying incentive to investors left reeling by a relentless flow of gloomy economic data in recent weeks. “It is tempting to believe that spring is in the air, at last, for the world’s battered economy and that the worst is over for stock prices,” said Stephen Lewis, economist at Monument Securities.
