World stocks are nearing their highest levels since September 2008, on optimism about global growth in 2011.
On the last trading day of 2010 for many Asian, European and Latin American markets, the MSCI world stock index increased 0.14%, close to its September 2008 highs.
World stocks gained 10% this year, emerging market stocks climbed 16% and European stocks added 9%.
Markets are focusing on growth prospects for China, as that country’s manufacturing sector continued to expand toward the year-end. However, this was at a slightly slower pace than last month.
Europe’s debt crisis still weighs heavily on markets, though. Italy recently managed to sell €8.1 billion of medium- and long-term debt, but had to pay higher yields to investors.