New York — World equity markets climbed to approach a four-week high on Wednesday, as investors’ appetite for the riskier asset was boosted by upbeat earnings from companies in Europe and the US. The dollar clung to gains amid fading concerns over a global trade war, while a reported decline in US crude inventories and the possibility of supply disruptions pushed oil prices higher. MSCI’s gauge of stocks across the globe was up 0.56%, the highest since March 21, and on track for a third straight session of gains. The index was supported by a higher open on Wall Street on Wednesday, following the latest batch of earnings. Morgan Stanley shares rose 3% after the bank reported a 40% jump in quarterly profit, driven by its trading business. "Earnings continue to progress on the positive side and commodities are also on the rise, that should give the markets another boost," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Investors appeared to be foc...
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