Stock markets end year on new high

Markets are ending 2017 in a party mood after a pick-up in global growth boosted corporate profits and commodities, while tame inflation kept central banks from snatching away the punch bowl of easy monetary policy.

MSCI’s world equity index, which tracks 47 countries, inched up 0.13%, and was poised to add a 14th straight month of gains to put it at an all-time high.