World Stocks Rally To One-Month High On Strong Corporate Earnings

World stock markets have reached a one-month high as a rally in technology shares and strong corporate earnings offset concerns about rising inflation.

Oil prices took a breather from their rise in recent weeks while the worrying trend of flattening global government bond yield curves paused, helping investors recoup some of their appetite for equities.

An MSCI gauge of world stocks has climbed to its highest levels since September 17 while U.S. stock futures gained in London trading. European stocks advanced 0.3%.

Macro data also offered some relief for global markets with weaker-than-expected growth data on China and U.S. industrial production numbers fueling hopes that central banks won't rush to tighten monetary policy anytime soon.

Bond markets welcomed the data with yields on 10-year U.S. Treasury notes falling nearly six basis points from Monday's high while the U.S. dollar weakened broadly against its rivals to a three-week low.

A rally overnight saw shares of technology giants Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Microsoft (NASDAQ:MSFT) all rise and lift stock markets with them.

Brent crude oil prices rose 0.28% to $84.56 U.S. a barrel though the pace of gains in oil prices slowed. U.S. crude gained 0.44% to $82.8 U.S. a barrel. Brent crude prices are up by a third in two months.

Gold also gained on lower yields with the spot price rising 0.6% to $1,775.2 U.S. an ounce but remaining within its recent trading range.