World shares limped toward their biggest weekly fall of the year on Friday, though investors took heart from a dip in government bond yields as the incoming Bank of Japan chief ruled out an early end to its super-easy monetary policy.
There was focus too on the first anniversary of Russia’s invasion of Ukraine, or “special military operation” as Russia terms it, as calls for peace, but also warnings about a wider escalation, came from both Washington and Beijing.
European share markets opened higher, with the pan region Euro Stoxx 600 (.STOXX) up 0.4% though overnight falls in Asia and lower Wall Street futures prices Wall Street meant MSCI’s main worldwide index (.MIWD00000PUS) was stuck in the red.
Europe’s moves were partly helped by a pause in this month’s sharp rise in global borrowing costs – a reversal of January’s trend.
During a lower house confirmation hearing, Kazuo Ueda, who will take over as governor of the Bank of Japan (BOJ) in April, said ultra-low interest rates were still needed to support Japan’s fragile economy, warning of the dangers of responding to cost-driven inflation with monetary tightening.
This report’s information was first seen on REUTERS; to read more, click this link.
