Shares Gain as Rate Cut Bets Pile Up

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, on Aug. 3, 2023. Toby Melville/Reuters

LONDON/SYDNEY—World shares gained on Thursday as market wagers on ever-more aggressive interest rate cuts stretched a rally in U.S. stocks and bonds, while the dollar fell to five-month lows.

European shares added 0.2 percent to approach a 23-month high hit two weeks ago, and were on course for gains of about 13 percent this year.