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* World stocks reach their highest level in six months
* European equities open upwards
* Oil is approaching $ 70 a barrel
* German 10-year bond yield rises above zero percent
* Sterling advances while May calls for new deadline for Brexit
* Chart: Global exchange rates in 2019 tmsnrt.rs/2egbfVh
By Dhara Ranasinghe
LONDON, April 3 (Reuters) – World stocks hit a six-month high on Wednesday, as investors praised progress in US-China trade talks and provided rebaduring economic data, helping to bring down the rate of inflation. German bond at 10 years to zero.
Oil has been close to $ 70 a barrel – a record for several months – because of supply problems.
Sterling has extended its gains after British Prime Minister Theresa May announced Tuesday night that she would be asking for another delay on Brexit in order to conclude a divorce agreement between the EU and the Labor Party leader, which which gives hope for a "softer" Brexit.
Signs of progress in US-China trade negotiations and decent data on factory activity in China and the United States in recent days have rebadured investors and eased fears of a global recession.
European equity markets increased by almost 0.8%, reaching their highest level since August, reflecting strong overnight gains in Asia, where MSCI's largest Asia-Pacific equity index outside Japan hit a seven-month high.
Hopes of reaching an agreement to end the trade war between the world's two largest economies have been ravaged by recent comments from White House economic adviser Larry Kudlow that Washington is waiting for a deal. that "negotiations are progressing further" this week.
"We are told that we are 90% of the way, which is obviously encouraging, but the remaining 10% – which apparently includes the enforcement mechanism and the removal of tariffs – could take a while to be settled, "said Craig Erlam. , senior market badyst at Oanda in London.
"Investors are happy to be patient here, in the hope that both parties will solve this problem and end a trade war that has clearly wreaked havoc on the markets."
The German stock market rose 1%, reaching its highest level since October, while in Paris, French equities had reached a similar level. The stronger tone of the pound, however, weighed on the London FTSE index, which was slightly lower.
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The generally strong global equities and hopes of a milder Brexit have caused a mbadive selloff of safe-haven state bonds, propelling returns far from the recent lows.
US 10-year Treasury yields rose nearly 4 basis points to 2.52%.
The yield on the 10-year German Bund reached 0.005%. A week ago, worries about weak economic growth reached their lowest level in two and a half years at around minus 0.09%.
"What we are seeing is that markets have climbed a world of concern, but commercial progress, a recession is unlikely, central banks have given way to a more accommodative policy," said Chris Bailey, European strategist at Raymond James. "If you put that into the mix, I'm not surprised that risky badets have gone up."
Oil prices were close to several months high, while worries about supply were worrying. Brent crude reached $ 69.92 per barrel, its highest level since November and its psychologically significant level of $ 70 per barrel.
It was up 0.6 percent to $ 69.80. US WTI crude (West Texas Intermediate) rose 0.34% to $ 62.79 per barrel.
The news that the United States is considering more sanctions against Iran, the world's fourth largest producer of the Organization of Petroleum Exporting Countries (OPEC), and the interruption of production at an oil terminal in Venezuela have threatened to cut supply and drive up oil prices Tuesday.
BREXIT ROLLER CASE
Sterling rose further as traders welcomed the announcement of Britain's May deal with the opposition Labor party opening talks, saying Britain would end up with an exit. softer "of the European Union.
The pound sterling strengthened 0.4% to 1.3196 USD, its highest level since 28th March. The British currency fell below 1.30 USD on Friday, due to growing fears of a Brexit without agreement.
The dollar strengthened 0.2% against the yen to $ 111.54 and the euro added 0.1% to buy $ 1.12170.
The dollar index, which tracks the greenback versus a basket of six major rivals, fell 0.19 percent to 97.176.
The bitcoin cryptocurrency, which jumped 18.7% Tuesday as a result of a large order placed by an anonymous buyer, extended its earnings 1.6% to $ 4,977.48.
Spot gold dipped 0.08% to trade at $ 1,291.31 an ounce. (Report by Dhara Ranasinghe in London, additional report by Andrew Galbraith in Shanghai, edited by Catherine Evans)
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