Global stocks were on track for a second day of record highs as traders shrugged off signs of an economic slowdown in China to focus on optimism about the US central bank persevering with its pandemic-era monetary stimulus.
The FTSE All World stock index gained 0.2 per cent after touching an all-time high on Monday. Europe’s Stoxx 600 equity gauge added 0.2 per cent, despite data showing eurozone inflation hit a 10-year high of 3 per cent in August, year on year. The European Central Bank has pledged to keep borrowing costs negative, however, until consumer price rises remain “durably” above its 2 per cent target.
London’s FTSE 100 traded flat and futures markets signalled Wall Street’s S&P 500 and Nasdaq Composite would build on records reached in the previous session.