Global stock markets mostly rise on lower rates optimism

LONDON, May 7: Stock markets extended the weeks rally Tuesday on optimism that the US Federal Reserve will cut interest rates this year.
Fridays big miss on US jobs creation for April, a largely well-received earnings season and soothing comments about the rates outlook by central bank chief Jerome Powell have combined to push equities higher.
"Powell has... played a key role in driving market sentiment, with recent comments from the Fed Chair shifting market expectations towards a November cut instead of December," noted Joshua Mahony, chief market analyst at Scope Markets.
Positive soundings out of Beijing on help for Chinas struggling economy has given an added boost, as have hope of rate cuts in Europe.
London reached yet another record high Tuesday.    —AFP