London — World stocks hit record highs on Thursday and the dollar dipped after the US Federal Reserve signalled caution in raising interest rates, while oil prices rose in anticipation of top producers agreeing to extend output cuts for up to a year. European shares opened higher, but quickly dipped into negative territory. The pan-European Stoxx 600 index was last down 0.3%, led lower by resources companies after a 4% drop in iron ore on China’s Dalian Commodity Exchange Earlier, Asian stocks, as measured by MSCI gained almost 1% to a two-year high after the US S&P 500 index hit a closing record on Wednesday. This helped push MSCI’s 46-country world stock index to a record high of 464.38%, up 0.3% on the day. E-mini index futures indicated Wall Street would open higher while the VIX "fear gauge" of expected volatility in the S&P 500 opened at 9.82, its lowest since May 10. Brent crude oil rose 55c, or more than 1% to $54.55 a barrel ahead of a meeting in Vienna, where oil cartel Op...
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