Equity markets around the world powered to fresh 2009 highs on Thursday as a global wave of forecast-beating corporate earnings helped allay concerns about potential asset bubbles in China. In New York, the S&P 500 closed up 1.2% at an eight-month high and within striking distance of the 1,000 level, up 45% from its low in March. But the Vix index of equity volatility was only a little lower at 25.32. The gains came amid positive earnings reports and upbeat outlooks from the likes of Honda Motor, AstraZeneca and Motorola, raising hopes of a broad-based economic recovery.

This entry was posted by Gwen Robinson on Friday, July 31st, 2009 at 5:00 and is filed under Capital markets. Edit this entry.