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GLOBAL MARKETS-Stocks enjoy a bounce from rate-cut fever

Global shares rose to one-month highs on Friday while the dollar held steady, giving commodities a boost, after softer U.S. jobs data gave investors confidence that interest rates will start to decline this year. In currencies, the pound headed for a modest weekly loss after the Bank of England (BoE) on Thursday paved the way for the start of rate cuts as soon as next month, while data showed the UK economy exited a mild recession in the first quarter of this year. The MSCI All-World index was up 0.13%, as equities in Asia and Europe took their lead from a rally on Wall Street overnight, after data showed the number of people filing for jobless benefits for the first time rose more than expected, suggesting the U.S. economy is beginning to slow.