Stocks bask in trade optimism, set for fourth straight week of gains

Global stocks rose to their highest in more than a month Friday after a report suggested progress towards resolving the trade dispute between the United States and China.

European stocks rose to their highest since early December, with the pan-European STOXX 600 index up nearly 1 percent.

Trade-exposed indexes and stocks gained the most, with autos rising 1.3 percent and Germany’s exporter-heavy DAX up 0.7 percent.

U.S. stocks rallied on the report but pared some of the gains after the Treasury denied Mnuchin had made any such recommendation.

Australian stocks rose 0.5 percent, South Korea’s KOSPI advanced 0.6 percent and Japan’s Nikkei gained more than 1 percent to a one-month high.

The index, which tracks stocks across 47 countries, was set for its fourth straight weekly gain, its longest weekly winning streak in six months.

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