By , NEW YORK/LONDON (Reuters) - World shares rallied to their highest since February and the euro hit its strongest in 18 months on Tuesday after European Union leaders agreed on a landmark stimulus package to revive regional economies ravaged by the coronavirus.The agreement after five days of haggling drove down the risk premium on European assets and pushed gold to its highest in almost nine years. Bullion got an extra boost from a weaker dollar and expectations of more U.S. stimulus from Washington.The willingness to raise a 750 billion-euro ($857 billion) fund in capital markets on...…By , NEW YORK/LONDON (Reuters) - World shares rallied to their highest since February and the euro hit its strongest in 18 months on Tuesday after European Union leaders agreed on a landmark stimulus package to revive regional economies ravaged by the coronavirus.The agreement after five days of haggling drove down the risk premium on European assets and pushed gold to its highest in almost nine years. Bullion got an extra boost from a weaker dollar and expectations of more U.S. stimulus from Washington.The willingness to raise a 750 billion-euro ($857 billion) fund in capital markets on...WW…

By (Refiles March 18 story to make clear quote in final paragraph is from a blog article by study’s authors)LONDON (Reuters) - A new algorithm-based study by a group of UK universities has predicted that 63 countries – roughly half the number rated by the likes of S&P Global, Moody’s and Fitch - could see their credit ratings cut because of climate change by 2030.Researchers from Cambridge University, the University of East Anglia and London-based SOAS looked at a “realistic scenario” known as RCP 8.5, where carbon and other polluting emissions continue rising in coming decades.They...…By (Refiles March 18 story to make clear quote in final paragraph is from a blog article by study’s authors)LONDON (Reuters) - A new algorithm-based study by a group of UK universities has predicted that 63 countries – roughly half the number rated by the likes of S&P Global, Moody’s and Fitch - could see their credit ratings cut because of climate change by 2030.Researchers from Cambridge University, the University of East Anglia and London-based SOAS looked at a “realistic scenario” known as RCP 8.5, where carbon and other polluting emissions continue rising in coming decades.They...WW…

By LONDON (Reuters) - The COVID pandemic has added $24 trillion to the global debt mountain over the last year a new study has shown, leaving it at a record $281 trillion and the worldwide debt-to-GDP ratio at over 355%.The Institute of International Finance’s global debt monitor estimated government support programmes had accounted for half of the rise, while global firms, banks and households added $5.4 trillion, 3.9 trillion and $2.6 trillion respectively.It has meant that debt as a ratio of world economic output known as gross domestic product surged by 35 percentage points to over 355%...…By LONDON (Reuters) - The COVID pandemic has added $24 trillion to the global debt mountain over the last year a new study has shown, leaving it at a record $281 trillion and the worldwide debt-to-GDP ratio at over 355%.The Institute of International Finance’s global debt monitor estimated government support programmes had accounted for half of the rise, while global firms, banks and households added $5.4 trillion, 3.9 trillion and $2.6 trillion respectively.It has meant that debt as a ratio of world economic output known as gross domestic product surged by 35 percentage points to over 355%...WW…

By , LONDON (Reuters) - A swathe of top investment banks and funds are piling into emerging market assets on a double-lift in confidence after U.S. President Donald Trump’s election defeat and this week’s coronavirus vaccine breakthrough.With poorer economies that rely on natural resources, cheap manufacturing or tourism set to benefit from a recovery in global trade and travel, as well as a more predictable White House, Morgan Stanley’s message on Wednesday was simply “Gotta Buy EM All!”.Its big bets are on the currencies of China, Mexico, Brazil, South Africa, Colombia and Russia and a...…By , LONDON (Reuters) - A swathe of top investment banks and funds are piling into emerging market assets on a double-lift in confidence after U.S. President Donald Trump’s election defeat and this week’s coronavirus vaccine breakthrough.With poorer economies that rely on natural resources, cheap manufacturing or tourism set to benefit from a recovery in global trade and travel, as well as a more predictable White House, Morgan Stanley’s message on Wednesday was simply “Gotta Buy EM All!”.Its big bets are on the currencies of China, Mexico, Brazil, South Africa, Colombia and Russia and a...WW…

By LONDON (Reuters) - Turkey’s lira has slumped to a record low and worries are mounting that it is being sucked into a perfect storm.The coronavirus is bringing a deep recession, analysts estimate the central bank has used up roughly a quarter of its freely available currency reserves in recent months and with huge dollar-denominated liabilities to service there are question marks about what its policy response is.Below are five charts showing why the pressure has become so intense.Turkey’s net currency reserves have fallen to nearly $25 billion from $40 billion so far this year. On a...…By LONDON (Reuters) - Turkey’s lira has slumped to a record low and worries are mounting that it is being sucked into a perfect storm.The coronavirus is bringing a deep recession, analysts estimate the central bank has used up roughly a quarter of its freely available currency reserves in recent months and with huge dollar-denominated liabilities to service there are question marks about what its policy response is.Below are five charts showing why the pressure has become so intense.Turkey’s net currency reserves have fallen to nearly $25 billion from $40 billion so far this year. On a...WW…

By LONDON (Reuters) - The number of companies or countries at risk of having their credit ratings cut has been pushed to an all-time high by the coronavirus pandemic, S&P Global analysis shows.A total of 1,287 of S&P’s ratings are now on a downgrade warning -- either with ‘negative outlooks’ where a move might take two years, or on ‘CreditWatch with negative implications’ where the risk is almost immediate.It tops 1,028 in the wake of the financial crisis in 2009 and comes despite nearly 700 downgrades already being impacted by COVID-19 in recent months.“Almost two-thirds of issuers...…By LONDON (Reuters) - The number of companies or countries at risk of having their credit ratings cut has been pushed to an all-time high by the coronavirus pandemic, S&P Global analysis shows.A total of 1,287 of S&P’s ratings are now on a downgrade warning -- either with ‘negative outlooks’ where a move might take two years, or on ‘CreditWatch with negative implications’ where the risk is almost immediate.It tops 1,028 in the wake of the financial crisis in 2009 and comes despite nearly 700 downgrades already being impacted by COVID-19 in recent months.“Almost two-thirds of issuers...WW…