World stocks stuck in worst run of the year ahead of ECB meeting
The MSCI world share index falls for a fourtg day with Wall Street stocks falling to a three-week low on economic growth worries
London — World stocks were stuck in their worst run of the year and bonds were on the rise on Thursday, as investors waited for confirmation that the European Central Bank (ECB) will start shoveling cheap cash at the eurozone again. The ECB is holding its second meeting of the year, with the euro almost motionless and stocks suffering from the same growth nerves that will see the central bank chop its in-house forecasts later. European shares retreated further from five-month highs as MSCI’s 47-country world share index also dropped for a fourth straight session to set its longest losing streak since December’s rout. Italy’s government bonds rallied to a seven-month high while its banks, which used the biggest share of the previous round of cheap central bank loans, rose 0.1% but remained below the highs hit in the previous session. A return to what was once its flagship crisis-fighting tool would be a wrenching change of direction for the ECB just months after it wound down its €2....
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