World stocks scale 2-month high, boosted by rate cuts bets

NEW YORK/MILAN (Reuters) – World shares extended gains on Wednesday and the dollar stemmed losses as expectations of an end to a global rate hike cycle spurred on investors following benign inflation readings in the U.S. and across Europe. By 1750 GMT, the MSCI world equity index, which tracks shares in 49 countries, jumped 0.7% to its highest since mid-September, following a positive session in Europe and a rally across Asia, aided by a report of stimulus in China. Stocks also rose across the board on Wall Street. The S&P 500 Index rose 0.3%, the Dow Jones Industrial Average added 0.4%, and the Nasdaq Composite Index climbed 0.2%. U.S. retail sales fell in October, though by less than expected, giving…