World stocks scored an eighth straight session of gains and their longest winning streak of the year on Thursday, as reassuring trade data from China kept the previous day’s post-U.S. mid-terms risk rally rolling.
European shares hit a one-month high after Asia and Wall Street had set similar milestones overnight.
Hong Kong’s Hang Seng .HSI advanced 0.9 percent and the Shanghai Composite Index .SSEC climbed 0.2 percent overnight, receiving a mild lift from stronger-than-expected October Chinese exports data.
Australian stocks , which tend to move with China’s fortunes, rose 0.5 percent, South Korea’s KOSPI .KS11 added 1.3 percent and Japan’s Nikkei .N225 surged 1.8 percent, almost matching Wednesday’s 2 percent Wall Street leap.
Italian government bond yields were up to six basis points higher as the European Commission forecast the country’s 2019 budget deficit would be much higher than suggested by Rome, at 2.9 percent rather than 2.4 percent.
The euro largely took the Italian drama on the chin having already swung back to almost a cent down against the dollar overnight to just above $1.14.
The dollar .DXY, which has soared this year on that divergence, was up 0.3 percent against a basket of top currencies and within striking distance of Wednesday’s one-month peak of 113.82 JPYO against the Japanese yen.
In commodities, U.S. crude futures CLc1 edged up to $61.73 a barrel after falling to an eight-month trough on Wednesday.
Brent crude LCOc1 rose 0.2 percent to $72.20 a barrel following a loss of 1.4 percent the previous day.
Oil prices struggled after surging U.S. crude output hit another record and domestic inventories rose more than expected.