Global markets follow Wall St higher for second day as virus fears recede

Global stock markets followed Wall Street higher Thursday for a second day as optimism about an economic recovery appeared to outweigh concern over rising coronavirus cases and inflation.
Market benchmarks in Frankfurt, Shanghai and Hong Kong advanced. London opened down less than 0.1 per cent. Japanese markets were closed for a holiday.
Wall Street futures rose after the S&P 500 index climbed 0.8 per cent overnight. That put it on track for a weekly gain after rebounding from Monday’s 1.6 per cent loss.
Investors are wavering between optimism about a global recovery and unease that it might be delayed by the spread of the virus’s more contagious delta variant.
They also worry central bankers might feel pressure to tame rising inflation by rolling back easy credit.
The delta variant remains an ever-present downside risk for the markets in the near-term,” said Craig Erlam of Oanda in a report, but as long as inflation remains only a temporary problem, it also keeps central bank …