- Dubois seeks legitimacy with Joshua scalp
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- Last-gasp Gimenez strike sends Atletico past Leipzig
- Barca stumble at Monaco after early red card
- Raya heroics save Arsenal in Champions League opener at Atalanta
- Cathay Airbus engine fire linked to cleaning: EU regulator
- Guardians beat Twins to secure MLB playoff berth
- Jihadist attack in Mali capital killed more than 70: security sources
- Alonso hails 'efficient' Leverkusen after Feyenoord rout
- Head's hundred seals Australia win over England in 1st ODI
- Ex-Man United striker Anthony Martial joins AEK Athens
- NFL unbeatens meet as Texans visit Vikings, Steelers host Chargers
- Head's hundred seals Australia win over England in 1st ODI after Labuschagne strikes
- Dream debut for Wirtz as Leverkusen thump dire Feyenoord
- Myanmar flood death toll climbs to 293: state media
- Israel army says West Bank air strike kills 4 militants
- LIV golfers get green light for US Ryder Cup team, PGA Championship
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- Breaking bad as McIlroy endures 'weird' day
- EU chief announces $11 bn for nations hit by 'heartbreaking' floods
- Spanish PM, Palestinian leader urge Mideast de-escalation
- New study reinforces theory Covid emerged at Chinese market
- World Bank boosts climate financing by 10 percent
- Bagnaia eyeing summit on home ground in 100th MotoGP
- 'Something was wrong', defendant in French mass rape tells court
- Hezbollah chief admits 'unprecedented' blow in device blasts
- Sales of US existing homes slip slightly in August
- Fear, panic haunt Lebanese after devices explode
- Labuschagne sparks Australia fightback in England ODI opener
- S.Africa's HIV research power couple says fight goes on
- Why is Israel focusing on border with Lebanon?
- Mpox vaccines administered in Rwanda, first in Africa
- US Fed rate cut is 'very positive sign' for economy: Yellen
- Unknown Mozart string trio discovered in Germany
- 'Are we five-year-olds?' F1 drivers won't mind their language
- Brazil judge orders X to reimpose block or face hefty fine
- Munich to rename stadium street after Beckenbauer
- Champions Italy to face Argentina in Davis Cup Final 8
- The winding, fitful path to weight loss drug Ozempic
- Italians defeat American Magic to reach Louis Vuitton Cup final
- Norris has 'nothing to lose' as he hunts Verstappen in Singapore
- Kyiv 'outraged' at Swiss showing of Russian war film
- French city renames Abbe Pierre square after abuse claims
- Footballer charged after huge cannabis seizure at UK airport
- Vatican recognises Medjugorje shrine, but not Virgin's messages
- Israel bombs Hezbollah strongholds in Lebanon after wave of deadly blasts
- Bank of England freezes rate after jumbo US cut
- Playing Nadal is 'kind of a nightmare', says Alcaraz
- Portugal tackles last of deadly northern forest fires
European stocks steady after Ukraine-induced volatility
European stock markets steadied Wednesday after a volatile start to the trading week, as investors tracked developments surrounding the Ukraine crisis.
Asian stock markets mirrored strong rebounds on Wall Street and across Europe seen Tuesday on hopes Russia would not invade Ukraine after Moscow said some of its troops on the countries' border were pulling back.
"The withdrawal of some Russian troops seems to have been accompanied by comments that the door remained open for diplomatic discussions, which was sufficient to prompt a relief rally," noted Richard Hunter, head of markets at Interactive Investor.
"On the other hand, the current elevated level of inflation remains a real concern."
UK annual inflation has hit the highest level since 1992, official data showed Wednesday, adding pressure to the cost of living and on the Bank of England to keep raising rates.
The prospect of higher BoE borrowing costs lent some support to the pound.
Global inflation has reached heights not seen in decades, largely owing to a surge in energy prices as economies reopen from pandemic lockdowns.
World oil prices this week struck the highest levels since 2014, as investors grow increasingly worried about energy supplies in the event of a war between major producer Russia and Ukraine.
Crude futures were back on the rise again Wednesday after tumbling Tuesday on easing conflict fears.
Observers have warned that oil could soon break above $100 per barrel.
"Volatility and uncertainty is just going to be heightened. That can be due to Russia-Ukraine, it could be due to stubborn inflation," Brenda O'Connor Juanas at UBS told Bloomberg Television.
US producer prices rose twice as much as expected in January, firming expectations that the Federal Reserve will from next month begin a series of US interest rate hikes.
"Americans expect inflation to eventually ease next year, but they are growing nervous the peak could be far worse than they initially expected," said Edward Moya, analyst at Oanda trading group.
Investors are awaiting the release of minutes from the Fed's January policy meeting, hoping it will provide clues about the pace and timing of rate hikes.
While the European Central Bank is sitting tight for now, it should start thinking about gradually withdrawing economic stimulus measures, as the risk of acting "too late" against soaring inflation grows, an ECB policymaker has told the Financial Times.
The comments late Tuesday by Isabel Schnabel, a member of the ECB's executive board, comes as the eurozone experiences record-high annual inflation at 5.1 percent.
- Key figures around 1200 GMT -
London - FTSE 100: DOWN 0.2 percent at 7,592.64 points
Frankfurt - DAX: UP 0.1 percent at 15,430.84
Paris - CAC 40: UP 0.1 percent at 6,984.97
EURO STOXX 50: UP 0.2 percent at 4,151.22
Tokyo - Nikkei 225: UP 2.2 percent at 27,460.40 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 24,675.63 (close)
Shanghai - Composite: UP 0.6 percent at 3,456.83 (close)
New York - Dow: UP 1.2 percent at 34,988.84 (close)
Brent North Sea crude: UP 1.5 percent at $94.65 per barrel
West Texas Intermediate: UP 1.0 percent at $93.03 per barrel
Euro/dollar: UP at $1.1386 from $1.1361 late Tuesday
Pound/dollar: UP at $1.3566 from $1.3541
Euro/pound: UP at 83.93 pence from 83.88 pence
Dollar/yen: UP at 115.67 yen from 115.62 yen
O.Lorenz--BTB