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Global markets: World stocks reach one-year-high

By Commodity News Service Canada

WINNIPEG, August 10 – The following is a glance at the news moving markets globally.

WORLD STOCKS HIT FRESH HIGHS
World stocks have hit a new one-year-high, according to reports on Wednesday.

The US dollar dropped against a bundle of currencies on Wednesday, as weaker productivity data curbed market expectations that the US Federal Reserve will raise interest rates this year.

US PRODUCTIVITY FALLS AGAIN
US worker productivity dropped from April to June, marking the third consecutive quarter of declines, according to data out of the country.

Productivity measures hourly output per worker.

SOUTH AFRICA’S BULK EXPORT VOLUMES DOWN
South Africa’s bulk export volumes fell 15.4 per cent in July from year-ago levels, according to reports out of the country on Wednesday.

The declines follow a 6.2 per cent increase in April compared with year-ago levels.

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