Hopes over trade talks spark global shares rally

Global stocks rose as US stocks added to all-time highs, and Mexico’s peso rallied against the dollar as US president Donald Trump’s administration closed a bilateral trade deal with its southern neighbour.

The S&P 500 Index closed in on 2,900 as Mr Trump unveiled details of the agreement that he says will replace the existing trade accord, Nafta. Shares of carmakers and parts producers surged more than 3%, while the peso rallied, and Canada’s dollar strengthened.