World shares touch eight-month high

World stock prices rose to an eight-month high on Thursday and oil prices climbed as news of stronger-than-expected Chinese exports raised hopes of a more robust recovery for the global economy this year. MSCI's broad world equity index was 0.6 per cent higher at 349.03, its highest level since May. Wall Street stocks struggled to set fresh five-year highs after opening stronger. The Dow Jones industrial average was up 18.43 points, or 0.14 per cent, at 13,408.94. The Standard & Poor's 500 Index was up 3.00 points, or 0.21 per cent, at 1,464.02.

The Nasdaq Composite Index was down 3.07 points, or 0.10 per cent, at 3,102.74.

The pan-European FTSEurofirst 300 index flirted with a near two-year high before turning lower in late European trading on comments from Swatch CEO Nick Hayek who expected slower growth in Swiss watch exports in 2013. The index closed down 0.29 per cent at 1,164.65 after touching 1,170.29.