24th  November, 2009, London

World market rose sharply on Monday amid of further hopeful signs about the economic recovery. Commodity stocks led the charge particularly in London, after the gold hits another high record and renewed dollar weakness. European stocks tracked their Asian counterparts high. With the FTSE 100 index of leading British shares up 88.99 points, or 1.7 %, at 5.340.40. Germany’s DAX rose 91.74 points. Wall Street was poised to open higher after a strong end to last week. Sentiment in Europe was buoyed by the data indicating that he economic recovery is gathering in a fast pace in the 16 countries that use euro. The monthly composite purchasing manager’s index- a broad gauge of business activity in manufacturing sector- rose to 53.7 in November from October 53.

Much of Monday’s activity centered on commodity stocks as the price of gold rose 1.7% to a new record of $1.167.35. gold has gardened renewed support as the recent rally in the dollar ran out of steam  after the US federal reserve official James Bullard said,” the central bank to continue to buy mortgage-backed securities after the  march expiration date. The falling of dollar makes the gold attractive to international investors which results in heavy demand of commodity particularly in London’s FTSE 100.