Biggest Jump in a Month for Global Stocks as oil Boils

World shares saw their biggest jump in over a month on Monday and the dollar slipped, after weaker-than-expected US jobs figures gave investors another excuse to push back Federal Reserve interest rate rise expectations.

 

European shares touched a four-month high led by mining and oil firms as crude prices jumped more than 3 percent for the second straight session in the commodity markets. Benchmark bonds were also back in favour amid the waning Fed bets, while emerging market stocks were headed for their best day since early July as the Fed and hot oil combination saw them soar 1.3 percent. 

 

"We don't expect the Fed to do anything until next year so that lays the ground for further advances," said TD Securities strategist Paul Fage. Though the Fed reaction and oil price surge were the markets' main drivers, they were not the only factors in play. 

 

The yen added to the dollar's pressures as the head of the Bank of Japan disappointed investors who had expected clearer signals that Tokyo's monetary policy would be eased further this month. 

 

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