In the 2nd week of June 2021, the value of global shares was seen flying at record heights. Japan's Nikkei (.N225) made a gain of about 0.35%. The global equity markets are happy to witness the economic recovery after the pandemic. Economic experts and policymakers are astutely adjusting strategies to stabilize the markets. Recently, the pan-regional STOXX Europe 600 index (.STOXX) and U.S. S&P 500 (.SPX) closed at an impressive figure. Unemployment is slowly decreasing in the USA, which is a good sign.
European markets were seen performing impressively because the traders were very confident. The traders were not worried about any chances of inflation in the US economy. There are minor fluctuations, but strategists consider it transitory. The pan-European Stoxx 600 managed to add a gain of 0.7%. Consecutive sessions of gain filled hope and confidence in the heart of the investors. Almost all the sectors managed to score some gain. It was led by the basic resources that made a gain of about 1.9%. A gain of 1.1% was recorded for the entire week for the Stoxx 600 benchmark. On Wall Street, it was seen that US stocks were trading at impressive figures and the S & P 500 was adding to its own records.
In the first quarter of 2021, the GDP of G-20 economies started to touch figures of pre-pandemic level. However, large differences were visible in the performance of nations. GDP growth of 0.8% was recorded in the first quarter of 2021 when compared with the last quarter of 2020 for the G-20 countries. Some nations managed to fare steadily and impressively like China, Turkey and India. According to experts, countries like Brazil, South Korea and Australia also saw growth returning to pre-pandemic levels.
A jump was seen in the oil prices due to growing demand. The acceleration in the vaccination program is helping in lifting the travel restrictions. More and more sectors are returning to the track. In North America, vehicular traffic has returned to the pre-pandemic levels. More planes are flying in Europe as the restrictions are being lifted. OPEC is making sincere efforts to meet the growing demand.