NEW YORK, Oct 27 — Equity markets gained globally yesterday as upbeat corporate earnings buoyed investor appetite for riskier investments, while gold prices fell nearly 1 per cent.
“Traders see this relatively strong earnings and other companies taking advantage of low interest rates to invest in capital expenditure as positive momentum,” said Michael Ashley Schulman, chief investment officer at Running Point Capital.The European STOXX 600 index hit its highest in seven weeks, adding 0.75 per cent.
“Even though this has been a good earnings season in aggregate, we are starting to see more companies with supply backlogs, hiring difficulties, and rising input prices that are eating into profits,” Deutsche Bank analysts wrote.
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