World shares up almost 0.5% after worst week since January 2016

World shares climbed half a percent on Monday, attempting to brush off fresh rises in global bond yields while equity futures also pointed to a firmer session on Wall Street which suffered its worst week in two years.

A higher Friday close for New York stocks following a week of "vol" induced selling, lifted markets in Asia and Europe, helping MSCI's all-country index rise off four-month lows, while European shares firmed 1.4 percent after touching six-month troughs last week.

Wall Street's equity volatility gauge, the VIX - the spike in which had kicked off the ructions - was at 26.5 percent, easing off Friday's 29 percent close.

While the index had rocketed to 50 at the height of last week's turmoil, current levels are well above the long-term average around 11 percent, in a sign that investors' nerves are still jangling.