London — Global equities climbed on Friday, while the dollar retreated against major currencies as a pullback in US bond yields prompted some investors to take profits after the currency’s best run in almost two years. The MSCI world equity index, which tracks shares in 46 countries, was up 0.2% in early European trading and headed to close the week about 1% higher. In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7%. European equities were steady in morning business, with a rally in defensive sectors such as healthcare and utilities offsetting weaker banking and commodities stocks. The pan-European Stoxx 600 index fell 0.05%, but remained on track for a third consecutive week of gains. European shares have gained 4.5% since Donald Trump’s surprise victory in November’s US presidential election. "It looks as if the market is taking a breather after a good run. The market view is that Trump is going to spend more and will shield the US more so that we get h...
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