Stock markets gained for the third day on Friday, February 26, with G20 policymakers meet in Shanghai. As Investing.com reports G20 leaders were to discuss how to reboot a struggling global economy after a rocky start to the year.
Stock markets gained for the third day on Friday, February 26, with G20 policymakers meet in Shanghai. As Investing.com reports G20 leaders were to discuss how to reboot a struggling global economy after a rocky start to the year.
It is said that Asian stock markets made guarded gains and Europe's major markets were all up around 2%; Steadier oil and currency prices supported the brighter mood after a week dominated by Brexit fears; Sterling gained around half a percent against the euro and dollar.
China sought to restore confidence in its economy as financial leaders from G20 nations gathered in Shanghai, and Premier Li Keqiang urged greater global coordination and consideration of policy spillovers.
According to Reuters Germany appeared to all but rule out coordinated stimulus to counter a deepening global chill, and U.S. Treasury Secretary Jack Lew said there was no need for a crisis response, as in 2009 when the Group of 20 (G20) major economies agreed on coordinated stimulus to prevent a worldwide depression.
While the health of the world's second-largest economy, which hosts the G20 presidency this year, is a key talking point around the two-day summit, the threat of the UK leaving the European Union and its political and economic implications have also surfaced as concerns among participants in the meeting, Reuters stresses.
