Published: Friday June 15, 2012 MYT 3:23:00 PM
Global shares rise on plans for central bank support
LONDON: World shares rose and the euro hovered near a three-week high on Friday, lifted by central bank preparations for coordinated liquidity operations in the event of a credit shock after Sunday's Greek election.
Expectations of more monetary stimulus were also boosted by a British plan to flood its recession-hit economy with cash, and after economic data in the United States rekindled talk of more Fed easing. But the Bank of Japan left its policy unchanged on Friday after a two-day meeting.
"Despite some traders pricing in a global deluge of cheap money, today's gains on the open are seen as only modest," said Jonathan Sudaria, a dealer at London Capital Group.
The MSCI world equity index <.MIWD00000PUS> was up 0.2 percent at 302.99 points - a rise of about 1.5 percent for the month so far after a fall of over nine percent in May.
The FTSE Eurofirst 300 <.FTEU3> index of top European shares was up 0.4 percent at 987.46 points in early trade led by gains in financial stocks.
The euro was little changed at $1.2620, off a two-year low of $1.2280 hit on June 1, with the market still nervous about the impact of the Greek election on the future of the euro. - Reuters