Global shares rise, dollar softens amid tariff truce

Global shares and Wall Street were higher on an easing in trade tensions between the world’s two largest economies, while the US dollar extended losses as benign US inflation data kept Federal Reserve rate cuts on the table.

- 

Gold prices fell as the U.S-China trade truce dimmed bullion’s safe-haven appeal.

European stocks eased after four sessions of gains. Asian shares gained. MSCI's gauge of stocks across the globe rose 2.24 points, or 0.26%, to 873.44.

As a truce in the tariff spat between China and the United States appeared to hit pause in the global trade war, investors have pushed global equities higher, although European shares took a breather on Wednesday.

"It’s all about the change in risk appetite,” said Lars Skovgaard, senior investment strategist at Danske Bank.

“I have a hard time seeing that we'll go back to this extreme political noise,” he added.

On Wall Street, the Dow Jones industrial Average rose 64.35 points, or 0.15%, to 42,204.78, the S&P 500 rose 2.26 points, or 0.04%, to 5,888.81 and the Nasdaq Composite rose 72.27 points, or 0.38%, to 19,082.35.

Europe's STOXX 600 retreated after having jumped over 1% since its trough on April 9, the day US President Donald Trump announced he would be pausing most of the reciprocal tariffs on US trading partners.

MSCI's broadest index of Asia-Pacific shares outside Japan closed higher by 1.56%, to 614.33, while Japan's Nikkei fell 55.13 points, or 0.14%, to 38,128.13.