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GLOBAL MARKETS-Stocks rise as investors bypass hedge fund default

By Ritvik Carvalho

LONDON, Mar 30 (Reuters) – Global equity markets rose on Tuesday as investors abandoned concerns over a hedge fund default that hit the banking sector overnight and focused on the vaccination program global against COVID-19.

* European stocks opened higher and the regional STOXX 600 index was up 0.4% as of 1100 GMT. The British selective FTSE 100 improved by 0.2%, the German DAX by 0.6%, the Italian FTSE MIB by 0.3% and the French CAC 40 by 0.5%.

* The MSCI World Stock Index, which includes stocks from 49 countries, was stable. Wall Street futures were down slightly.

* Sentiment in Asia was mixed earlier and then turned positive, driving most markets in the region higher.

* MSCI’s broader index of Asia-Pacific equities excluding Japan was up 0.6%. Mainland China’s selective CSI300 improved 1%, Hong Kong’s Hang Seng gained 1.2% and the Nikkei was flat.

* Elizabeth Tian, ​​a Citigroup director, said investor confidence remains closely tied to the global pace of vaccination.

* “Investors will also be looking at the number of COVID cases, as increases in Western Europe and the Philippines mark the return of restrictions, as vaccination plans threaten to stall amid supply disruptions and vaccine nationalism. “, he claimed.

* “Although restrictions have been increased in Europe, the UK will relax its rules on staying at home,” he added.

* The yield on 10-year US Treasuries was 1.7760%, its highest level since January 2020.

* In the foreign exchange market, the dollar was hitting a one-year high against the yen, driven by rising bond returns. The euro was depreciating to $ 1.1751 for the first time since November 11.

* Crude prices fell after the Suez Canal reopened after being blocked for several days by a stuck container ship. Attention turned to a meeting that will be held by OPEC + this week, where the extension of the reduction in supply could be on the table in the face of new confinements due to the coronavirus.

(Additional reporting by Scott Murdoch and Alwyn Scott in Hong Kong; edited in Spanish by Carlos Serrano)

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