Global stocks cheered by growth hopes, euro steadies
1/4/2012 10:51:10 AM
TOKYO: Asian stocks rose and the euro steadied on Wednesday, as investor risk appetite returned after upbeat U.S. and European economic data improved the global growth outlook despite deep-set worries over the euro zone debt crisis.
MSCI's broadest index of Asia Pacific shares outside Japan rose 0.7 percent, led by a 1.7 percent gain in the materials sector. The index fell 18 percent in 2011, sharply underperforming Wall Street's S&P 500, which ended the year virtually unchanged, and an 11 percent drop in the FTSEurofirst 300 index of top European shares.
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