World stocks reach new peak in world full of surprises

LONDON: World stocks breached record highs on Monday as better-than-expected company earnings and economic data from the United States stole the focus from rising geopolitical tension over North Korea's nuclear program.

The U.S. dollar .DXY dipped slightly but held on to most of Friday's gains - its biggest daily rise this year - made after data showed the United States created more jobs than forecast last month.

For those watching second quarter corporate results in recent weeks, there have been many such surprises. Of the nearly 1000 companies in the MSCI world index that have reported, 67 percent have beaten expectations, according to Reuters data.

These two factors helped nudge the flagship share index above a peak breached late last month, setting a new all-time high of 480.09 on Monday.

The Dow Jones, which recorded its eighth consecutive record high on Friday, was set to open up slightly on Monday. 1YMc1

"Global equities remain the preferred asset class for investors and this can be clearly seen in the new highs hit by world indices today," said Edward Park, investment director at Brooks Macdonald.