GLOBAL MARKETS-World stocks set fresh record high on strong China, U.S. data

Global stocks hit a record high on Friday and oil climbed after strong U.S. and Chinese economic data bolstered expectations of a solid global recovery from the coronavirus-induced slump. Government stimulus, a string of strong corporate earnings releases and signs of economic recovery in countries ahead in the COVID-19 vaccination race have all helped push stock markets onto new heights in recent days. "As the economic re-opening accelerates in the coming months, we believe the bull market remains on a solid footing," said Mark Haefele, chief investment officer, UBS Global Wealth Management.