Global shares rise as US growth data dampens QE panic

Global equities climbed overnight as poor growth figures from the US allayed fears the Federal Reserve will soon slam the brakes on its stimulus programme.

US GDP figures released yesterday showed the economy grew at a 1.8% annual rate in the first quarter, a downward revision from the previous estimate of 2.4% growth. This disappointing data has prompted speculation the Federal Reserve will hold fire on planned policy changes as it realises the recovery remains fragile in the world's largest economy. The S&P 500 ended the session up 0.96% higher at 1,603, while the Dow was up 1.02% to close at 14,910. Asian equities have taken a battering in the last couple of days as investors worried about the impact on shares if the US central ban...