Global stocks at all-time high as investors look past inflation jump

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Global stocks ticked up to an all-time high as investors held on to positions that forecast a strong economic recovery from coronavirus but maintained a cautious stance ahead of the US central bank’s next monthly meeting.

The FTSE All-World index inched up 0.1 per cent to its latest record, taking the gain for the global equities benchmark to 1.1 per cent this month.

The Europe-wide Stoxx 600 share index rose 0.4 per cent to hit a fresh record while the UK’s FTSE 100 rose 0.6 per cent. Futures markets signalled Wall Street’s S&P 500 index would extend an all-time high hit a day earlier.

“The economic data is all continuing to improve, but everyone was expecting it,” said Caroline Simmons, UK chief investment officer for UBS wealth management. “People are now waiting to see what happens with central banks,” she added.

The US Federal Reserve holds its monthly meeting next week, which will be closely watched after…

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