Global Markets Rally Amid U.S. Rate Cut Hopes and Key Elections

World equity markets reached record highs driven by optimism over a potential U.S. rate cut and key upcoming elections. European shares and UK stocks saw significant gains, supported by positive employment data and favorable political circumstances. Gold and oil prices also recorded increases amid these market activities.

World equity markets soared to fresh record highs, fueled by optimism over a potential U.S. rate cut and anticipation of key elections, notably in France this weekend. Conversely, the euro climbed to a three-week high, bolstered by election prospects.

In the UK, a landslide victory for the Labour Party spurred enthusiasm with London's FTSE 100 index gaining at the open. Meanwhile, French stocks rebounded, recovering from a previous selloff. European shares climbed 0.4%, mirroring a global trend of muted but positive gains.

Markets continue to be buoyed by the possibility of U.S. rate cuts, with U.S. Treasury yields remaining stable. As the focus shifts to employment data and job growth metrics, investors remain cautiously optimistic. Gold and oil prices also recorded second consecutive weekly gains, reflecting broader economic sentiment.

(With inputs from agencies.)