Toronto, ON -- (ReleaseWire) -- 02/23/2012 -- This year, as the Greek leaders negotiated conditions of a second aid package, commodities have extended the longest rally and the stocks worldwide rose with the MSCI All-Country World Index set to enter a bull market.
Platinum Account Group witnessed the MSCI index jumping 0.4 percent in New York, approaching gains to more than 20 percent from its closing low on October 4. The Standard & Poor’s 500 Index had a slight change. The S&P GSCI Index of commodities went high for a fourth straight day, attaining a six-month high.
As banks and mining companies rallied, the Stoxx Europe 600 Index has reached its first gain in three days which jumped to 0.2 percent. The Portugal PSI 20 Index rose 2.7 percent for the biggest gain among 24 global developed markets. Before the government auctions $24 billion of the securities, the output on the 10-year US Treasury climbed one basis point to 0.92 percent, which is the second of three auctions this week with a total of $72 billion.
Platinum Account Group predicts the MSCI Emerging Markets Index is headed for its highest close since August 4 when it climbed to 1.2 percent. Taiwan's Taiex Index advanced 2.1 percent and the Shanghai Composite Index jumped 2.4 percent. For the first day this week, Russia's Micex Index advanced 0.2 percent, as UBS AG upgraded the country's equities to overweight.