GLOBAL equity traders are no longer panicking about the world's slowest growth rate in seven years. They're warming up to shares of companies that are most sensitive to the economic cycle - miners, technological and industrial firms - while turning away from utilities and consumer staples.
The FTSE All World Cyclical Index is on track for its best two-month showing since 2012 relative to the FTSE All World Defensive Index, with members including Japan's Toyota Motor Corp, Korea's Samsung Electronics Co and Switzerland's ABB Ltd soaring more than 12 per cent.
While stocks have been ripe for a rotation for most of 2016, investors worldwide have been unwinding bets for a grimmer growth outlook in...
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