London — World stocks climbed to record highs on Tuesday as easing tensions over North Korea and signs that Hurricane Irma was causing less damage than feared in the US boosted risk appetite. The MSCI All Country World Index edged up 0.2%, building on Monday’s 0.9% gain which was its fourth-biggest so far this year. The pan-European STOXX 600 index jumped to a one-month peak as insurers made further headway and basic resources and financials joined in the rally. MSCI World’s Insurer Index gained a further 0.3%, as insured property losses from Irma are expected to be smaller than initially forecast. British consumer price inflation came in stronger than expected at 2.9%, offering more clues as to the Bank of England’s policy decision on Thursday. The central bank has been struggling to keep inflation at 2% since sterling tumbled in response to Britain voting to leave the EU in June 2016, putting pressure on consumer spending and living standards. Another market focus on Tuesday will ...
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