London — World stocks rose for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar headed for its worst week in five as investors awaited US inflation data. MSCI’s world equity index, which tracks shares in 47 countries, was up 0.1% after hitting record highs on Thursday. Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan hit a 10-year high, up 0.3% on the day. European shares rose to their highest level in nearly four months, helped by some well-received earnings updates. The pan-European Stoxx600 rose 0.3% and was set for its fifth straight week of gains as were world stocks. Germany’s DAX 30 index was flat, just below the new record high hit in the previous session, while Britain’s FTSE fell 0.4% after a record close on Thursday. "[Markets] have certainly been kind to us this year and valuations are increasingly a point of contention," said Fergus Shaw, a partner at Cerno Capital. "But if we look bottom-up, we se...
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