LONDON (Reuters) - The total value of global stock markets surpassed its previous May 2015 peak to hit a new record, according to Thomson Reuters data, as investors continued to pump money into equities on hopes of a pick-up in growth, inflation and corporate profits.
World stock markets have added more than $4 trillion in value since Trump's election with about half of that coming from U.S.-listed stocks alone. The total value of global stocks stood at $56.7 trillion as of Wednesday's close.
Chart: http://reut.rs/2mcp7T1
Stocks in sectors most geared to the economic cycle, such as mining companies and industrials, have been the biggest drivers of the rally since last summer on hopes of a global infrastructure push. Bank stocks also soared as bond yields rose.
While the rally has taken market valuations above long-term averages, some analysts say there is scope for more gains as investors on the sidelines come back to stocks.
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"We think the market still has the potential to move higher as investors capitulate into equities; note that the 'Great Rotation' out of fixed income into equities has yet to happen," said analysts at Bank of America-Merrill Lynch.
(Reporting by Vikram Subhedar and Thyagaraju Adinarayan; Editing by Catherine Evans)
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