London  —  World stocks rose to record highs on Wednesday as drugmakers rolled out Covid-19 vaccines and US congressional leaders expressed optimism about a stimulus deal, with the upbeat mood dragging the safe-haven dollar to two-and-a-half-year lows.

In Europe, markets were cheered by the possibility of a Brexit trade deal, better-than-expected eurozone PMI economic data and a European Central Bank decision to let eurozone banks start paying dividends again if they have enough capital...

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