- Marxist leader set to become Sri Lanka's next president
- From blades to pull-up bars: UK charity tackles knife crime
- Swiss vote on pensions and environment protections
- No pain, no gain: Chinese pro wrestlers fight for recognition
- UAE leader seeks to deepen 'strategic' ties in US visit during Mideast crisis
- Hezbollah takes heavy hits but still fighting Israel
- Floods, landslides hit central Japan months after major quake
- All Blacks coach Robertson demands better finishing
- Argentina edge South Africa to keep title hopes alive
- Biden says China 'testing us,' in hot mic remarks to Quad allies
- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
Europe stocks shine but US mixed as Netflix plunges
European stocks rose Wednesday as investors tracked corporate earnings and developments in the Ukraine conflict, while US stocks were mixed as Netflix shares tumbled after the streaming giant reported a drop in subscribers.
Oil prices slid further after having slumped the previous day on demand concerns.
"The upbeat market mood which helped Wall Street close firmly higher yesterday has followed through into Europe," City Index senior market analyst Fiona Cincotta told AFP.
Frankfurt won 1.5 percent and Paris rose 1.4 percent, aided by news of a return to growth in eurozone industrial output in February.
London added 0.4 percent, held back by mining shares that were penalised following disappointing performance by Rio Tinto due to the pandemic and production issues.
Europe equities and oil had dropped Tuesday as Moscow launched its eastern offensive in Ukraine and after the International Monetary Fund slashed its global 2022 economic growth forecasts by 0.8 percentage points, largely over inflationary crises linked to the war and the coronavirus pandemic.
"Whilst the Russian war remains a key driver in the markets, the bad news has been priced in for now," Cincotta said.
"Instead, some areas of optimism are arising with banks outperforming after the ECB (European Central Bank) soothed nerves with news that all big banks in the eurozone can withstand Russian write-offs," she added.
- Netflix 'shocker' -
Wall Street was mixed in late morning trading, with the Dow adding 0.7 percent.
But Netflix shares plunged 36 percent after the streaming giant reported its first drop in quarterly subscriptions in a decade, blaming the quarter-over-quarter erosion to suspension of its service in Russia due to Moscow's invasion of Ukraine.
"There is no two ways to look at it, Netflix was a shocker and is likely to take the wind out of the Nasdaq’s recent rally, or at least put it on pause," Cincotta said.
The Nasdaq Composite was down 0.9 percent.
"That said, broadly speaking earnings season has been reasonably solid so far, economic data hasn't revealed any major cracks either, which is helping to keep risk sentiment buoyant," she added.
Michael Hewson at CMC Markets said that the slump in Netflix shares "appears to be prompting a significant de-risking in the more highly valued areas of the US market".
In Asia trading, concerns about China's economy hit trading in Shanghai and Hong Kong.
Shanghai's main stocks index was Asia's biggest faller, losing 1.4 percent as the People's Bank of China (PBoC) kept key lending rates unchanged amid uncertainty over the impact of ongoing Chinese Covid restrictions.
Hong Kong -- which plummeted on Tuesday over concerns about Beijing's ongoing tech-sector crackdown -- also ended down.
"PBoC policymakers realise the futility of cutting rates during a lockdown as policies incentivising lending will have a minimal short-term positive impact on activity so long as mobility restrictions remain in place," noted independent analyst Stephen Innes.
- Key figures around 1530 GMT -
New York - Dow: UP 0.7 percent at 35,170.23 points
EURO STOXX 50: UP 0.7 percent at 3,770.86
London - FTSE 100: UP 0.4 percent at 7,629.22 (close)
Frankfurt - DAX: UP 1.5 percent at 14,362.03 (close)
Paris - CAC 40: UP 1.4 percent at 6,624.91
Tokyo - Nikkei 225: UP 0.86 percent at 27,217.85 (close)
Shanghai - Composite: DOWN 1.4 percent at 3,151.05 (close)
Hong Kong - Hang Seng Index: DOWN 0.4 percent at 20,944.67 (close)
Euro/dollar: UP at $1.0855 from $1.0788 late on Tuesday
Dollar/yen: DOWN at 127.77 yen from 128.91 yen
Pound/dollar: UP at $1.3048 from $1.2998
Euro/pound: UP at 83.21 pence from 82.99 pence
Brent North Sea crude: DOWN 0.5 percent at $106.71 per barrel
West Texas Intermediate: DOWN less than 0.1 percent at $102.48 per barrel
burs-rl/rlp
F.Müller--BTB