LONDON: On Monday, stocks rose and risk appetite in global markets rose, but concerns over the COVID-19 delta variant, which is holding back economic growth, persisted as investors saw a possible timeline for a reduction of monetary stimulus.

After worries about slower growth dragged stocks and oil prices down last week, Asian and European trading rebounded.

The MSCI World Equity Index, which stocks stocks in 50 countries, up 0.4 percent at 1040 GMT and rebounding from its biggest weekly decline since June last week.

Europe’s STOXX 600 was up 0.6 percent and US stock futures were up about 0, 3 percent to.

Oil prices rose and broke their seven-day losing streak. Brent crude rose 3.1 percent and U.S. West Texas Intermediate crude rose 3 percent after both posted their biggest week of losses in more than nine months last week as markets focused on weakened fuel demand due to a surge in viral infections In currencies, the dollar index was 93.311, 0.2 percent lower than Friday’s nine-month high of 92.734.

“After the corrections we saw last week, it is really a recovery, “said Marco Willner, head of investment strategy at NNIP.

” People are looking at Jackson Hole, people are also looking at the delta, so the factors haven’t changed – it’s a technical bounceback . “

PMI survey data showed that business activity in the eurozone rose sharply in August – despite fears that new strains of coronavirus could lead to renewed restrictions, the optimism limited.

According to PMI surveys, activities in the manufacturing and service sectors in Germany increased in August, although the pace of growth slowed slightly.

“Concerns about the effects of the delta variant and input bottlenecks remain exist, but have not derailed the recovery so far, “wrote ING senior economist Bert Colijn in a customer statement.

Germany’s benchmark return for 10 years was -0.465%, while the 10-year US return was 1.2784 % was after there was no direction in the last week.

The delta variant spread has the potential to disrupt the timing of the Fed’s plans to reduce its bond purchase program.

Dallas Federal Reserve President Robert Kaplan, one of the Fed’s most staunch supporters of reducing support to the economy, said Friday that he may need to adjust that view if the Delta variant of the C oronavirus should slow economic growth significantly.

Markets will be paying attention to Fed Chairman Jerome Powell’s speech in Jackson Hole this week, although investors looking for clear evidence of tapering may be disappointed.

“One of the key questions will be when the rejuvenation starts. I think it’s not finished yet that Powell will comment on this at all this week – he could wait until September, maybe even November, to make a big announcement on this, “said Willner of NNIP.

Expectations, that the US Federal Reserve will ease its monetary stimulus sooner than the European Central Bank has helped the dollar strengthen against the euro in recent weeks, with the euro hitting a nine-month low of $ 1.1664 on Friday, rising At 1049 GMT on Monday, up 0.2 percent to $ 1.1719. Elsewhere, Bitcoin rose to over $ 50,000 during Asian trading hours and rose 1.9 percent over the day to around 50,249 The cryptocurrency hit an all-time high of 64,895.22 in April, fell sharply in May and has been recovering gradually since mid-July.

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