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The MSCI All-Country World was up 1.5 percent, surpassing its prior peak set last month before growing risks of a Brexit-like shock in the French election and doubts about the Trump administration's policies interrupted the so-called reflation trade.
Across major indices, France's CAC 40 rose more than 4 percent on the day and was on track for its best session in nearly five years. In the United States, the Nasdaq Composite rose 1.2 percent to a record.