World stocks flirt with record highs on ECB easing bets

Global shares flirted with an all-time peak on Thursday while the euro touched its weakest in more than two months on bets the European Central Bank would unveil new stimulus measures next week. ECB policymakers have opened the door to a rate cut, effectively charging banks to hold cash at the central bank overnight, and to a refinancing operation aimed at supporting businesses when its board meets on June 5. Expectations of monetary easing have caused the euro to fall 2.3 percent against the dollar since the last ECB policy meeting on May 8, leaving it trading at its lowest level since mid-February at around $1.3584. "At least a rate cut is in the price (of the euro and stocks)," said Joost van Leenders, investment specialist for allocation and strategy at BNP-Paribas Investment Partners.

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