- Saudi crown prince says no Israel ties without Palestinian state
- Canada to further cut international student, foreign worker permits
- YouTube launches new TV-focused tools for creators
- White Sox heading for worst season in MLB history
- China the top challenge in US history: senior diplomat
- Hong Kong democracy tycoon's son warns time running out
- New migraine drugs no better than cheap painkillers: big study
- Sean 'Diddy' Combs again denied bail in sex trafficking case
- Brewers clinch division title as MLB playoff race heats up
- Man City blunted by 'giant' Inter in Champions League stalemate
- US stocks dip despite larger Fed interest rate cut
- Man City held by Inter as PSG pinch win in Champions League
- All Blacks recall Beauden Barrett for Australia Test
- Fears of all-out war as new Lebanon device blasts kill 20, wound 450
- Spurs late show saves Postecoglou blushes at Coventry
- PSG snatch late goal to beat Champions League debutants Girona
- Gittens' late double gives Dortmund Champions League win at Brugge
- Man City blunted by Inter in Champions League stalemate
- Hidden talent: French Olympic star Marchand opts for disguise
- MrBeast named in California lawsuit over 'Beast Games' show
- Gauff splits with Gilbert as coach after 14-month run
- Hundreds of thousands at risk in Sudan's El-Fasher: UN
- Harvey Weinstein pleads not guilty to new sex crime charge
- Venezuelan opposition candidate says letter conceding election was coerced
- Ukraine official claims Russian advance in Kursk has been 'stopped'
- X update allows app to bypass Brazil ban: internet providers
- Fears of all-out war as new Lebanon device blasts kill 14, wound 450
- US Fed makes aggressive rate cut, weeks before election
- Arsenal's Odegaard faces lengthy injury absence
- India coal expansion risks massive methane growth: report
- China the top challenge in US history, top diplomat says
- US Fed makes larger half-point cut in first reduction since 2020
- Ronaldo's Al Nassr appoint former AC Milan boss Pioli
- Ainslie 'relieved' as British book place in Louis Vuitton Cup final
- Struggling Roma replace sacked icon De Rossi with Ivan Juric
- Women's NBA will add 15th team in Portland in 2026
- Brazil fires need harsher punishment: environmental police boss
- Boeing to start large temporary furloughs amid Seattle strike
- Fears of all-out war as new Lebanon device blasts kill nine, wound 300
- 'Emergency' declared over falling UK butterfly numbers
- McIlroy outlines threats to golf peace deal
- Stock markets, dollar slip before US rate decision
- Russian advance in Kursk 'stopped': Ukraine official to AFP
- UN members demand end to 'unlawful' Israeli occupation of Palestinian territories
- Snapchat pushes 'safer' platform image, but not everyone agrees
- Three dead, 100 wounded in new wave of Lebanon device explosions
- So where does the oceans' plastic waste come from?
- Allied war heroes buried in Netherlands... 80 years on
- Marsh coy over Australia's choice to open alongside Head
- New London sculpture pays tribute to trans community
CMSC | 0.02% | 25.055 | $ | |
SCS | 0.71% | 14.11 | $ | |
RIO | -0.02% | 62.91 | $ | |
CMSD | -0.12% | 24.98 | $ | |
NGG | -0.46% | 70.05 | $ | |
RBGPF | 5.79% | 60.5 | $ | |
GSK | -0.31% | 42.43 | $ | |
BCE | 3.09% | 35.61 | $ | |
AZN | 0.06% | 78.58 | $ | |
JRI | 0.45% | 13.44 | $ | |
BTI | -0.34% | 37.88 | $ | |
BCC | 1.33% | 137.06 | $ | |
BP | -0.37% | 32.43 | $ | |
RYCEF | 1.37% | 6.55 | $ | |
VOD | 0.49% | 10.23 | $ | |
RELX | -0.82% | 47.37 | $ |
Stocks advance on strong earnings, oil flat before OPEC+
European stock markets rose Wednesday following strong global earnings that lifted Asian and Wall Street equities overnight.
Soaring profits at Google parent Alphabet and an upgraded earnings forecast by Sony helped lift sentiment ahead of monetary policy announcements Thursday from the European Central Bank and Bank of England.
Before then, all eyes will be on the OPEC+ oil cartel, which on Wednesday is expected to stick to its guns and increase output only modestly after the price of crude recently soared to multi-year highs.
"European (stocks) markets continue their February ascent, attempting to build on recent bullish momentum after January's rout," noted Victoria Scholar, head of investment at Interactive Investor.
Oil prices steadied after recent strong gains as Russia-Ukraine tensions fanned supply worries, adding to expectations that a global economic recovery will spur further demand improvements.
As in January, analysts expect the 23 member nations forming OPEC+, led by Saudi Arabia and Russia, to announce additional output.
"Anything other than a decision to raise output by a further 400,000 barrels per day would come as a big surprise," said Commerzbank analyst Carsten Fritsch.
He added there was speculation "OPEC+ could opt to scale up its oil supply to a greater extent in response to the high prices and tight market".
- Lunar New Year -
Asian stock markets closed higher as investors become less worried about the Federal Reserve's plans to tighten monetary policy, while strong corporate results lifted optimism about the outlook.
And while there remains plenty of volatility and uncertainty on trading floors owing to geopolitical tensions and the Omicron spread, analysts remain upbeat for the year.
Asian equities trading remained thin owing to the Lunar New Year break.
Of the markets that opened Wednesday, Tokyo, Sydney, Wellington, Jakarta and Manila all gained more than one percent.
After a torrid January, world stock markets have enjoyed a strong start to February as investors hunt for bargains, according to analysts.
As well as Thursday's European updates on interest rates, traders await the pre-weekend release of US jobs data providing the latest snapshot of the world's biggest economy.
The dollar has come off the boil against main rivals after recent strong gains on expectations of aggressive Fed interest-rate hikes to combat soaring inflation.
- Key figures around 1000 GMT -
London - FTSE 100: UP 0.8 percent at 7,595.97 points
Frankfurt - DAX: UP 0.7 percent at 15,729.85
Paris - CAC 40: UP 0.7 percent at 7,146.70
EURO STOXX 50: UP 0.8 percent at 4,257.81
Tokyo - Nikkei 225: UP 1.7 percent at 27,533.60 (close)
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
New York - Dow: UP 0.8 percent at 35,405.24 (close)
Euro/dollar: UP at $1.1296 from $1.1269 late Tuesday
Pound/dollar: UP at $1.3543 from $1.3519
Euro/pound: UP at 83.42 pence from 83.33 pence
Dollar/yen: DOWN at 114.41 yen from 114.67 yen
Brent North Sea crude: UP 0.1 percent at $89.21 per barrel
West Texas Intermediate: DOWN 0.1 percent at $88.08 per barrel
M.Ouellet--BTB