London — World shares rose on Friday but were set to end a second week lower amid intensifying worries over the fallout of a trade dispute resulting from US tariffs, while oil prices were higher ahead of an oil cartel Opec meeting later in the day. The MSCI All-Country World index, which tracks stocks in 47 countries, was up 0.2% in the European morning but down 1.3% on the week, its worst weekly showing since mid-March. Investor anxiety over a possible full-blown trade war has deepened this week over increasingly sharp rhetoric between the US and China, and growing evidence of the economic damage such a conflict could produce. German car maker Daimler cut its earnings forecast earlier this week, saying tariffs on cars exported from the US to China would hurt Mercedes-Benz sales. India joined the EU and China in retaliating against US President Donald Trump’s tariffs on steel and aluminium, raising import duties on US almonds by 20%. US commerce secretary Wilbur Ross said on Thursda...
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