London — World stocks racked up record highs on Thursday and the dollar fell, as investors bet major stimulus from new US President Joe Biden and unswerving global central bank support would cushion the coronavirus’s economic damage.

Europe’s traders hoisted the FTSE, DAX and CAC 40 0.2% to 0.4% higher and pushed up the euro again as they also waited for the European Central Bank’s (ECB) first policy meeting of the year...

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