World shares up 0.3 at highest since Oct 2022
Euro touches more than 4month peaks vs dollar
Shipping stocks fall in Europe

LONDON, Dec 27 Reuters World stocks rallied to their highest levels since late 2022 on Wednesday, with yearend optimism high on hopes that major central banks such as the U.S. Federal Reserve will start cutting interest rates early next year.

U.S. stock futures , were flat a day after the SP 500 touched its highest intraday level since January 2022. European shares were a touch higher, with trade generally subdued given public holidays across the region on Monday and Tuesday.

China39;s November industrial profits posted doubledigit gains as overall manufacturing improved, data showed, although soft demand continued to constrain business growth expectations, emboldening calls for more macro policy support.

MSCI39;s world stock index touched a more than oneyear high and is up 4.5 in December, while MSCI39;s broadest index of AsiaPacific shares outside Japan rose more than 1 to an over fourmonth high.

We still have strong equity markets and that is likely to hold through to New Year, said SEB chief economist Jens Magnusson.

A riskon mood in world markets lifted the euro to more than fourmonth peaks against the dollar, while oil prices slipped as some major shippers returned to the Red Sea an area disrupted after Yemen39;s Houthi militant group began targeting vessels earlier this month.

Maersk shares fell more than 4.5, and other shipping…