By Lawrence Delevingne (Reuters) -World shares edged up on Thursday as expectations of interest rate cuts stretched a rally in U.S. stocks, while benchmark Treasury yields and the dollar were steady near five-month lows. On Wall Street, the Dow Jones Industrial Average rose 0.13% and the Nasdaq Composite gained 0.07%. The S&P 500 also ticked up. The index has climbed 11.6% this quarter and is within a whisker of its all-time closing peak, while its price-to-earnings ratio is up by a quarter on the year at 24.0. [.N] The MSCI world equity index, which tracks shares in 47 countries, gained 0.12%…