Global stocks close in on five-year high

<p>Global stocks could soon hit five-year highs.</p>

Stocks around the world are closing in on a five-year high as leading economies continue to recover from the effects of the global financial slowdown.

The FTSE All-World equity index is up 0.2 per cent to 248.6, which is currently just below its best closing level since June 2008.

According to a report by the Financial Times, factors contributing to this rise include the S&P 500 closing above 1,700 for the first time and the FTSE Eurofirst 300 opening with a rise of 0.3 per cent this morning (August 2nd).

The Nikkei rose by 3.3 per cent during today's trading as the index continued to add value, with the softening yen having boosted the exporter-heavy stock market.

After hitting a one-month low earlier in the week, the Nikkei bounced back with a 2.5 per cent increase in value yesterday, meaning it ended the week strongly.

But after dropping by 1.5 per cent on Tuesday, its gains for July were just 0.1 per cent.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.