SYDNEY/MILAN—World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July.
Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions on businesses resuming work from Wednesday, easing a city-wide lockdown that began two months ago.
The MSCI’s benchmark for global stocks rose 0.6 percent to its highest in more than four weeks by 0745 GMT, driven by a positive open in Europe and strong gains in Asia overnight. The index is up 0.4 percent so far this month….