(Adds close of European markets)
* MSCI All-Country World Index up 0.3%
* China Q1 GDP grows record 18.3%
* Global asset performance http://tmsnrt.rs/2yaDPgn
* World FX rates http://tmsnrt.rs/2egbfVh
By Herbert Lash and Simon Jessop
NEW YORK/LONDON, April 16 (Reuters) - Gold prices edged up
and global stocks scaled fresh highs on Friday after strong U.S.
and Chinese economic data bolstered expectations of a solid
global recovery from the coronavirus pandemic.
Government stimulus, strong corporate earnings from U.S.
banks and in Europe, along with signs of economic recovery in
countries leading the COVID-19 vaccination race have all helped
push key stock market indexes to new heights this week.
MSCI's broadest gauge of world stocks .MIWD00000PUS rose
0.33%, lifted by surging European shares and less solid gains on
Wall Street, where high-flying tech stocks took a breather from
a rally that analysts say still has legs.
As long as the strong economic rebound, tremendous fiscal
and monetary support and progress on vaccine distribution remain
in place, markets can continue to grind higher, said Michael
Arone, chief investment strategist at State Street Global
Advisors in Boston.
"The backdrop for stocks to continue higher is in place,"
Arone said. "Investors and market participants continue to
underestimate both the economic and earnings recovery."
U.S. homebuilding surged to nearly a 15-year high in March,
the Commerce Department said on Friday, adding to robust retail
sales data the prior day, suggesting the economy was roaring.
In Europe, the pan-regional STOXX 600 index .STOXX closed
up 0.90% at a new peak, while Germany's DAX .GDAXI gained 1.3%
to hit an all-time high and the UK's FTSE 100 .FTSE rose 0.5%
to close at more than one-year highs.
On Wall Street, the Dow Jones Industrial Average .DJI rose
0.25% and the S&P 500 .SPX gained 0.20%, both setting new
highs. The Nasdaq Composite .IXIC eased 0.02%.
German car and truck maker Daimler DAIGn.DE rose 2.7% as
higher vehicle prices and strong demand in China helped it post
a better-than-expected surge in quarterly operating profit.
"As the economic re-opening accelerates in the coming
months, we believe the bull market remains on a solid footing,"
said Mark Haefele, chief investment officer, UBS Global Wealth
Management.
Chinese data showing record 18.3% growth in the first
quarter drove Asian shares higher, though the reading slightly
undershot expectations. Retail sales bounced strongly last
month. Asian markets rallied overnight on the news. MSCI's broadest
index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose
0.4% and Shanghai shares .SSEC added 0.8%. Japan's Nikkei
.N225 edged up 0.1%.
"As the U.S. economy and then European economies open up, it
should further help Asian exports. This should support emerging
market and APAC equities as well as China equities and fixed
income," said Sebastien Galy, senior macro strategist at Nordea
Asset Management.
Gold prices rose to a seven-week high, on track for their
best week since mid-December, as retreating U.S. Treasury yields
and a softer dollar bolstered the metal's appeal.
Spot gold prices XAU= rose $13.75 to $1,776.96 an ounce.
The dollar slid to a 4-week low against a basket of
currencies after the sharp drop in Treasury yields on Thursday,
as investors increasingly accepted the Federal Reserve's vow to
keep an accommodative policy stance for longer than expected.
The dollar index =USD fell 0.096%, with the euro EUR= up
0.1% to $1.1977. The Japanese yen weakened 0.04% versus the
greenback at 108.80 per dollar.
The yield on U.S. 10-year Treasuries US10YT=RR rose to
1.5816%, pulling back from multi-week lows hit the prior
session.
Oil was modestly lower on Friday after a week of gains built
on strong economic figures from the United States and China that
offset concerns about rising COVID-19 infections in other major
economies.
Brent crude futures LCOc1 fell $0.12 to $66.82 a barrel.
U.S. crude futures CLc1 were down $0.28 to $63.18 a barrel.
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World FX rates YTD http://tmsnrt.rs/2egbfVh
Global asset performance http://tmsnrt.rs/2yaDPgn
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