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Global shares rise in record year-end rally, dollar slips 2 New York

The U.S. dollar slipped across the board as increased investor appetite for risk sapped the safe-haven appeal of the greenback.

MSCI's gauge of stock performance in 49 countries gained 0.35% while the pan-European STOXX 600 index rose 0.17%, both setting all-time highs.

On Wall Street, the Dow Jones Industrial Average rose 70.6 points, or 0.25%, to 28,691.99. The S and P 500 gained 4.49 points, or 0.14%, to 3,244.4 and the Nasdaq Composite added 4.37 points, or 0.05%, to 9,026.76.

The S and P 500 was just shy of surpassing annual gains of 29.6% in 2013, which would provide the U.S. benchmark its best year since 1997.

Overnight in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan jumped 0.8% to 555.39, a level not seen since mid-2018. It is up 15.5% so far this year.

Emerging market stocks rose 0.66%.

The euro rose to a 10-day high. The dollar index fell 0.54%, with the euro up 0.68% to $1.1172. The Japanese yen strengthened 0.13% versus the greenback at 109.51 per dollar.

U.S. gold futures climbed to a seven-week high of $1,518.70 an ounce. Spot gold added 0.1%.

Oil prices edged down from three-month highs as investors' optimism on economic growth was clouded by the Russian energy minister's comments downplaying crude output cuts next year. The Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, may consider wrapping up their oil output reduction in 2020, Russian Energy Minister Alexander Novak said.

Brent crude slid 3 cents to $67.89 a barrel, while West Texas Intermediate fell 3 cents to $61.65 a barrel.

Source: Saudi Press Agency

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