LONDON (Reuters) - World stocks and commodities rose on Friday, with stocks set to post their biggest weekly gain in over a month as investors seemed to shrug off uncertainty over tension in the Middle East and the prospect of a global trade war.
Global stock markets have had a whipsaw week, largely fueled by U.S. President Donald Trump’s tendency to change his mind over key policy and political issues.
The MSCI All-Country World Index .MIWO00000PUS, which tracks shares in 47 countries was up nearly 0.1 percent on the day. It has gained nearly 2 percent this week, its best weekly showing since March.
(GRAPHIC: World stocks set for best week in a month reut.rs/2IQUDhs)
-European hit new one-month highs, with the pan-European STOXX 600 index on track for its third straight week of gains, its longest winning streak since January. The beginnings of European companies’ first-quarter results were largely positive, though misses were badly punished. [.EU]
Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up a slim 0.1 percent, still up about 2 percent on the week.
Overall, Friday’s performance in stocks seemed to suggest investors were relieved at apparent suggestions from Trump that a military strike on Syria may not be imminent. However, the threat of a strike remained after Washington’s earlier warnings against the Syrian government for what is said was a suspected poison gas attack on its civilians.
“It would be naïve in the extreme to suggest that the events of the last 24 hours means that the threat of an escalation of geopolitical factors has passed,” said Michael Hewson, chief