Global shares hit two-month high as oil edges up

By Dion Rabouin NEW YORK (Reuters) - A late bounce on Wall Street, backed by a rise in oil prices, helped propel a measure of global equity markets to its highest in nearly two months on Wednesday. The march upward by oil likely shows selling in the commodity has "washed out," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. Oil prices have continued to rise despite any news of a reduction in supply or increase in demand, suggesting that sellers have largely exited the m