ECB expected to cut euro zone rates for first time since 2019
World stocks on cusp of fresh record high
Nvidia overtakes Apple as world39;s second most valuable firm

LONDON, June 6 Reuters World stocks were on the brink of an alltime high and the euro rose on Thursday ahead of what was widely expected to be the European Central Bank39;s first interest rate cut in nearly five years.

With the longawaited moment about to arrive, traders pushed the panEuropean STOXX 600 up 0.3 in early deals and watched the MSCI 47country main world index inch to within a point of a seemingly inevitable new peak.

Sentiment was almost at frenzy stage again. Wall Street39;s SP 500 and Nasdaq had both set new records on Wednesday after a now 3 trillion AI juggernaut Nvidia swept past Apple to become the world39;s secondmost valuable company, behind Microsoft.

The euro was on the rise again too. It added another 0.1 to its 2 rise over the last month to reach just shy of 1.0880, although most traders were sitting on their hands, waiting to see what the ECB signals later.

All 82 economists polled by Reuters expect the Frankfurtbased central bank to trim its key rate to 3.75 from the record high 4.0 level it has been at since September, but what it does after that remains subject to much debate.

EU elections happen in the coming days but strongerthanexpected data over the last few weeks has raised doubts about how many more cuts will be justified this year.

Euro zone inflation rose more…