Global equities climb as corporate earnings surprise and oil firms rally on sanctions

Global stock markets advanced on Oct 23 after better-than-expected corporate earnings reports and renewed sanctions on Russian energy firms which caused oil prices to surge. The positive earnings cycle raised hopes of stronger consumer and business spending, while the energy boost drew investor attention to commodity-linked sectors. Analysts noted that risk appetite improved as valuation worries eased and inflows into global equity funds increased. However, caution remains around macro data and trade tensions as drivers of sentiment in the near term.