London — World stocks continued to claw back losses on Friday after spending much of the week in the red, boosted by signs of progress in US tax reform and strong corporate results. The US House of Representatives passed a tax overhaul expected to boost share prices if it becomes law. The legislative battle now shifts to the Senate. Despite a bounce-back, however, global stocks were still on track for their second consecutive week of losses, their longest weekly losing streak since August. The US treasury yield curve remained on investors’ radar, reaching its flattest levels in a decade, reflecting a belief that the Federal Reserve will continue to raise interest rates. The MSCI world equity index, which tracks shares in 47 countries was up 0.1% on the day, but was heading for a 0.1% fall on the week. European shares were sluggish in early deals after the previous session’s strong recovery, with the Stoxx 600 index falling back 0.3% as disappointing company results and downgrades we...
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