GLOBAL MARKETS - Stocks Gain on Rate Cut Bets as ECB Meeting Looms

GLOBAL MARKET - NEW YORK/MILAN, June 5 (Reuters) - World shares rose and U.S. Treasury yields fell on Wednesday as investors focused on an upcoming European Central Bank policy meeting and soft U.S. labor market data firmed bets of a September Federal Reserve interest rate cut.

Canada's central bank cut interest rates by 25 basis points for the first time in four years, bolstering investor hopes that stocks would soon get a boost from lower interest rates elsewhere.