Markets have recovered some ground from last week's 'Trump tantrum', with Brazil and Russia leading the way, thanks to a rise in the oil price.
As our exclusive Accumulator data table shows, all major global stock markets barring China's Shanghai Composite rose in the five days to yesterday, bouncing back from last week's losses sparked by fears over US president Donald Trump's agenda.
That's despite markets slumping at the beginning of the week, after Trump lost his bid to reform healthcare. While the pulling of the vote in the US House of Representatives initially led to fears over Trump's ability to deliver on the rest of his agenda, those worries have calmed, with investors still holding out hope the president's promised tax cuts can deliver the next leg of global markets' rally.
Oil was the big winner of the week, up 4.6%, on hopes the Opec cartel of oil producing nations and non-Opec member Russia would extend production cuts. That helped boost the stock markets of oil producers Brazil and Russia.
But crude has taken a dip today, snapping a three-day rally at the end of a quarter that has seen oil the worst performing major asset class, down 5.5% this year.
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