Global stocks gained ground for the ninth session in a row as optimism over China’s growth prospects and waning emerging market tensions boosted investor risk appetite.
Commodity prices were generally firmer as the dollar hovered near its lowest level this year against a basket of other currencies. The softer tone to the dollar helped gold rise $9 to $1,328 an ounce, its highest for more than three months.
Sentiment was also supported by the S&P 500’s rally last week to within touching distance of its record high after traders welcomed confirmation that Federal Reserve policy was likely to remain ultra-accommodative for the foreseeable future.
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