World stocks choppy, Kiwi soars after rate cut

By Marc Jones LONDON (Reuters) - World shares hovered close to one-year highs on Thursday as oil prices dropped for a third straight day and the latest interest rate cut in a developed market - this time New Zealand - got a lukewarm reaction from investors. The slip in crude markets left energy firms backpeddling, weighing on European equities which, after early declines, nudged higher on sharp gains by consumer goods stocks. Asia and Wall Street had drifted lower overnight [.N].