World equity markets climbed on Thursday on a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into recession.
Investors sought the safety of the US dollar and government bonds. Stocks and oil futures were among the few risk assets that advanced, with oil benchmarks surging 20 per cent after US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.
MSCI’s gauge of stocks across the globe rose 1.20 per cent after broad declines in Japan. European shares also rose 0.42 per cent despite data showing US weekly jobless claims jumped to a record 6.6 million, double the record from the previous week.
