- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
- Hezbollah drone strike kills four, wounds dozens at Israeli base
- China says launches military drills around Taiwan
- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
- AC Milan's Pulisic among five out for USA match in Mexico
- France's Amandine Henry retires from international football
- Centre-left set to win pro-Ukraine Lithuania's vote
- India's World Cup hopes in Pakistan hands after Australia defeat
- Zelensky says NKorea sending troops to Russian army
- England beat Finland to get back on track
Stocks mixed tracking cooler inflation, weak growth
European stock markets rose Friday after Asian indices closed mixed, with a cooler inflation environment offset by recession risks.
There are growing expectations that the Federal Reserve will cut US interest rates in the first half of 2024 thanks to a string of data suggesting its tightening cycle is finally getting price rises under control.
Data Thursday showed that the personal consumption expenditures (PCE) price index -- the Fed's preferred gauge of inflation -- slowed further in October.
Other recent data pointed to a softening in US consumer spending and the labour market.
Data this week also showed eurozone inflation came in lower than forecast, giving the European Central Bank room to pause on rates and consider cutting next year.
The outlook was less clear in Britain, where the rate of annual inflation remains the highest among G7 rich nations.
Bank of England officials have indicated that they do not see UK rate cuts any time soon, helping to boost the pound against main rivals.
Traders were awaiting a speech Friday due from Fed chief Jerome Powell, hoping for guidance on the bank's rate plans.
While officials have welcomed the inflation data, they have been reluctant to call an end to more than a year of rate hikes just yet, warning that prices could flare up again.
"It is still too early to eliminate the tightening bias in the Fed's forward guidance," said Brian Rose at UBS Global Wealth Management.
"We expect (Powell) to be careful to avoid sounding too dovish."
While Wall Street closed out November on a mixed note Thursday, it was a strong month for US and other global stock markets.
The Nasdaq and S&P 500 both jumped about 10 percent in November.
The ongoing weakness in China's economy remains a problem, even as authorities move to put in place measures to kickstart growth.
"There's still a lot of pessimism -- there's still a wait-and-see attitude," said James Fletcher of Ethos Investment Management.
Still, analysts remain positive about the global equity outlook.
Stephen Innes said investors were "recognising the Federal Reserve's successful management of inflation without inducing a severe recession, a concern that was a massive part of the 2023 narrative".
However, he added that "uncertainties persist amid geopolitical risks such as Russia/Ukraine tensions, Middle East dynamics, the upcoming US Presidential election, and the lagged effects of prolonged higher interest rates".
Oil prices steadied following Thursday's losses that were caused despite a deal between OPEC and Russia-led allies to further cut output.
The grouping said they would further reduce production in the new year, while Saudi Arabia would also extend an ongoing cut.
But observers said the measures were voluntary and it remained to be seen whether members -- particularly Russia and some African countries who had hit back at initial calls for a cut -- would stick to their pledges.
"The absence of a comprehensive breakdown with only a select number of countries detailing their reduction failed to convince the market," noted analysts at ANZ Group Holdings.
- Key figures around 1115 GMT -
London - FTSE 100: UP 0.6 percent 7,499.92 points
Paris - CAC 40: UP 0.4 percent at 7,341.68
Frankfurt - DAX: UP 0.7 percent at 16,327.93
EURO STOXX 50: UP 0.7 percent at 4,412.63
Tokyo - Nikkei 225: DOWN 0.2 percent at 33,431.51 (close)
Hong Kong - Hang Seng Index: DOWN 1.3 percent at 16,830.30 (close)
Shanghai - Composite: UP 0.1 percent at 3,031.64 (close)
New York - Dow: UP 1.5 percent at 35,950.89 (close)
Euro/dollar: DOWN at $1.0882 from $1.0889 on Thursday
Pound/dollar: UP at $1.2649 from $1.2621
Dollar/yen: DOWN at 148.05 yen from 148.14 yen
Euro/pound: DOWN at 86.03 pence from 86.22 pence
Brent North Sea crude: FLAT at $80.89 per barrel
West Texas Intermediate: DOWN 0.1 percent at $76.03 per barrel
S.F.Warren--AMWN