World Shares Reach 14-month Highs as Investors Shrug Off the Fed

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, on March 22, 2023. Issei Kato/Reuters

LONDON—Global shares rose to 14-month highs on Friday, as investors took the view that the Federal Reserve may not need to raise rates much more, while the dollar headed for its biggest weekly slide since January.

The MSCI All-World index was up 0.2 percent, around its highest since mid-April 2022.