- Paris Olympics sports equipment moves to new homes
- 'Happy' Kinghorn relishing life at Toulouse
- Norris sets Singapore pace as Verstappen only 15th
- 8 dead in Israeli strike, source says Hezbollah commander killed
- Germany to bid to host women's Euro 2029
- Portugal brings deadly forest fires under control
- Postecoglou defends Solanke after slow start to Spurs career
- US nuclear plant Three Mile Island to reopen to power Microsoft
- Arteta urges Arsenal to take next step in Man City showdown
- Stock markets fall after Fed-fuelled rally
- Top Hezbollah commander 'killed' in Israel strike
- Poland charges Russian over attack on Navalny ally: prosecutors
- Man City have rest 'advantage' in Arsenal showdown: Guardiola
- Maresca has 'no doubt' in Jackson as Chelsea's number nine
- EU chief announces 35 bn euro loan plan for Ukraine before winter
- From TikTok to Hollywood, the irresistible rise of Italy's Khaby Lame
- Verstappen punished for swearing in Singapore press conference
- Sri Lanka lead by 202 in first New Zealand Test
- Brook 'not too fussed' by England's batting in heavy Australia loss
- India's Ashwin 'happy' to embrace pressure
- A modern 'Trojan Horse': two days of mayhem in Lebanon
- Third of Burundi mpox cases in children under five: UN
- Man Utd appoint Foster + Partners to develop Old Trafford 'masterplan'
- Israel-Hezbollah exchanges intensify on Lebanon border
- French mayor sorry for 'no one died' remark over mass rape trial
- Mohamed Al-Fayed, outsider shunned by British high society
- Lawyers say 'monster' late Harrods owner abused dozens of women
- India in box seat after Bumrah takes four against Bangladesh
- Taiwan retains death penalty but limits use to 'exceptional' cases
- Ferrari's Leclerc sets early pace in Singapore ahead of Norris
- 10 years into Huthi rule, some Yemenis count the cost
- France poised to finally get new govt
- Kompany, Alonso call for action on player workload amid strike talks
- Liverpool goalkeeper Alisson doubtful for Bournemouth clash
- Bumrah takes four as India bowl out Bangladesh for 149
- Sri Lanka 134-1 to take upper hand in first New Zealand Test
- Bayern's Kompany calls for game cap for players amid strike talks
- Christie's expands Hong Kong footprint in hope of art market 'pickup'
- Sultry screen legend Sophia Loren turns 90
- Cambodian opposition figure in court on incitement charge
- Bumrah takes three wickets to have Bangladesh in trouble at 112-8
- Kimchi threat as heatwave drives up South Korea cabbage prices
- UK economic data delivers fresh blow to new govt
- China to 'gradually resume' seafood imports from Japan after Fukushima ban
- India minister blames dam release for flooding
- O'Rourke strikes early for Kiwis as Sri Lanka trail by three
- Deep takes two as Bangladesh totter in reply to India's 376
- Israel pounds Lebanon's Hezbollah after device blasts
- Revolution or mirage? Controversy surrounds new Alzheimer's drugs
- Ashwin's 113 powers India to 376 in Bangladesh Test
European stocks rebound sharply on bargain hunting
European equities surged Wednesday on bargain hunting, but analysts warned that the temporary bounce would not last due to fallout from Russia's invasion of Ukraine.
Frankfurt's benchmark DAX index and the Paris CAC 40 each soared about five percent in late morning deals.
Outside the eurozone, London's FTSE 100 jumped 1.5 percent, despite earlier Asian losses.
"European markets rebound as investors fish for bargains," summarised Russ Mould, investment director at AJ Bell.
Brent crude fell but held near $124 per barrel, one day after the United States and Britain moved to ban imports of Russian crude as part of Western sanctions on Moscow.
- 'Dead cat bounce' -
"It's more than likely a dead cat bounce," OANDA analyst Craig Erlam told AFP in reference to surging European stocks.
A "dead cat bounce" is a market term referring to a rebound that briefly interrupts a prolonged downturn.
"We appear to be seeing a temporary corrective move," Erlam said, predicting the rebound would not last as Russia continues to wage war on Ukraine.
"The invasion is still happening, sanctions are still being imposed and oil prices are still high," he noted.
"None of that is conducive with a sustainable stock market recovery."
Major Asian markets declined Wednesday as investors dwelled on Washington's Russian oil and gas ban.
EU nations, which receive roughly 40 percent of their gas imports and one quarter of their oil from Russia, opted to set a goal of cutting their Russian gas imports by two-thirds.
European natural gas prices languished far below this week's record peak, despite fears over the region's reliance on Russian gas.
Europe gas reference Dutch TTF slid 18 percent to 175.75 euros per megawatt hour, having leapt at the start of this week to an all-time high at 345 euros.
Brent had spiked to $139 on Monday -- about $8 short of an all-time record -- in expectation of the US embargo.
Dealers warn of more markets volatility as Russia showed no sign of letting up on its assault on Ukraine.
- $240 oil? -
Prices could rocket further if more nations slap sanctions on Russian crude, according to Bjornar Tonhaugen, head of oil markets at Rystad Energy.
"Oil prices could hit $240 per barrel this summer in the worst-case scenario if Western countries roll out sanctions on Russia's oil exports en masse," Tonhaugen said.
"Market volatility is at an all-time high, with ... the expectation that supply will further tighten due to restrictive sanctions on Russian energy from the West."
The crisis has also fuelled fears that the fragile global recovery from Covid-19 will be replaced by a period of stagflation, in which inflation surges and economies flatline or contract.
Haven investment gold declined Wednesday, one day after hitting a near-record $2,070 per ounce -- the highest since August 2020.
- Key figures around 1125 GMT -
Frankfurt - DAX: UP 5.1 percent at 13,486.53 points
Paris - CAC 40: UP 4.9 percent at 6,256.33
London - FTSE 100: UP 1.8 percent at 7,091.04
EURO STOXX 50: UP 5.1 percent at 3,685.28
Tokyo - Nikkei 225: DOWN 0.3 percent at 24,717.53 (close)
Hong Kong - Hang Seng Index: DOWN 0.7 percent at 20,627.71 (close)
Shanghai - Composite: DOWN 1.1 percent at 3,256.39 (close)
New York - Dow: DOWN 0.6 percent at 32,632.64 (close)
Brent North Sea crude: DOWN 3.3 percent at $123.67 per barrel
West Texas Intermediate: DOWN 3.3 percent at $119.65
Euro/dollar: UP at $1.0966 from $1.0899 Tuesday
Pound/dollar: UP at $1.3167 from $1.3104
Euro/pound: UP at 83.29 pence from 83.18 pence
Dollar/yen: UP at 115.87 yen from 115.67 yen
burs-rfj/lth
T.Bondarenko--BTB