Global stock markets hit their highest levels of the year on Monday, buoyed by better-than-expected profits at HSBC, Europe’s biggest bank and growing confidence in economic recovery. The powerful rally in equities took New York’s benchmark S&P500 index above 1,000 for the first time since early November and drove Europe’s key share index to a fresh 2009 record. Asian stocks surged to 11-month highs and continued rising on Tuesday.

This entry was posted by Gwen Robinson on Tuesday, August 4th, 2009 at 5:07 and is filed under Capital markets. Edit this entry.