Back-to-back gains for global stocks; Brent climbs into positive territory

Global stocks headed for their first back-to-back gain in two weeks on continuing optimism that the deadly coronavirus pandemic may be waning in some key epicentres. While most Asian markets surged, a second day of gains in European equities put the region’s benchmarks from Italy to France and Germany on course to exit a bear market.

The US markets, too, were in the green. The S&P 500 was set for its biggest two-day gain in nearly two weeks, building on a 7 per cent jump on Monday, as health officials said the pandemic may kill fewer Americans than recent projections.

The MSCI Asia Pacific Index climbed about 1 per cent after advancing almost 3 per cent Monday.