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Here’s why Westfield Corp Ltd shares have soared 9%

Shares of shopping centre behemoth Westfield Corp Ltd (ASX: WFD) have enjoyed a very solid fortnight, with the stock up an impressive 8.8% at $7.92. This compares to an 8.6% rise from Scentre Group Ltd (ASX: SCG) and a 6.6% rise from the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO).

The stock is now trading at its highest price since its inception into the ASX in June, which was a result of the global restructure of Westfield Group and Westfield Retail Trust.

Although there has been no company-specific news which would explain the stock’s recent jump, the recovery of global equity markets, as well as optimism in the US economy, are the likely driving forces. For instance, the US Federal Reserve will cease pumping money into financial markets based on the belief the economy is now strong enough to support itself, while the nation’s GDP figures also rose at an annualised rate of 3.5% in the third quarter.

Improvements have also been seen in the nation’s labour market which should help drive consumer spending over the coming years. Indeed, this will fare well for retailers and for shopping centre operators such as Westfield.

Although its price has risen, Westfield Corp is still presenting as a decent buy. It should continue to benefit as the US and UK economies improve while it will also profit from a falling Australian dollar. However, there's another company which could be an even greater buy right now, and it's just been named by The Motley Fool's top analyst as his #1 stock to buy in 2015!

Hot off the presses! The Motley Fool's top stock for 2015 is a sexy ASX tech company with a stunning track record and plenty of room to run. Discover our analysts' hands-down favourite bet for 2015 in this brand-new FREE report. Simply click here to grab your copy.

Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

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