- Former Pakistan captain Azam dropped for second England Test
- 'Opportunist' Dupont dazzles on Toulouse return
- Australia replace injured Vlaeminck with Graham at Women's T20 World Cup
- Sinner wins Shanghai Masters to deny Djokovic 100th career title
- Ubisoft fears assassin's hit over falling sales
- Israel hits Lebanon from the air and fights Hezbollah on the ground
- China's Yin has 'goosebumps' as she romps to LPGA win in Shanghai
- Pakistan to re-use Multan pitch for second England Test
- Blair and King Charles hail Salmond's 'devotion' to Scotland
- Vietnam, China hold talks on calming South China Sea tensions
- SpaceX will try to 'catch' giant Starship rocket shortly before landing
- England captain Stokes in line for second Pakistan Test return
- Japan's former empress Michiko discharged after surgery: reports
- Japan's former empress Michiko discharged after surgey: reports
- Israel widens Lebanon strikes as troops fight Hezbollah along border
- Bowlers' graveyards: Pakistan's placid pitches under fresh fire
- 'Little Gregory' murder haunts France 40 years on
- Vietnam, China to expand rail links, cross-border payments
- Americans get their belief back as Pochettino makes his mark
- Vietnam, China to boost economic, defence cooperation
- Winning start for Pochettino's American adventure
- Tariffs, tax cuts, energy: What is in Trump's economic plan?
- Amazon wants to be everything to everyone
- US firms brace for more tariffs as election approaches
- Winning start for Poch's American adventure
- Morocco's tribeswomen see facial tattoo tradition fade
- Centre-left set to win as pro-Ukraine Lithuania votes
- Colombia guerilla group urges delegations not to attend COP16 in Cali
- Pakistan frets over security ahead of SCO summit
- Ronaldo scores 133rd Portugal goal in Nations League win over Poland
- 40 nations contributing to UN Lebanon peacekeeping force condemn 'attacks'
- Eight dead as heavy rain thrashes Brazil after long drought
- Jewish school in Canada hit by gunfire for second time
- Morocco crush Central African Republic, Guirassy scores hat-trick
- Dupont scores quickfire hat-trick on Toulouse Top 14 return
- Ronaldo scores in Portugal's Nations League win as Spain sink Denmark
- Interim boss Carsley has not applied for England job
- Mets hurler Senga ready to take on Dodgers in game one of NL Championship Series
- Ronaldo on target again as Portugal defeat Poland in Nations League
- Guardians rip Tigers 7-3 to advance in MLB playoffs
- AFP, BBC win top French war reporting awards
- Carsley goes back to basics as humbled England face Finland
- Alex Salmond: the man who took Scotland to the brink of independence
- Scotland's former leader Alex Salmond dies aged 69: party
- UN warns of catastrophe as Israel fights a two-front war
- Croatia extend Scotland's losing streak
- South Africa, New Zealand boost T20 World Cup semi-final hopes
- 'Very challenging': Israel faces Hezbollah in tricky terrain
- Farrell begins to feel at home as Racing 92 beat Toulon
- South Africa boost T20 World Cup semi-final hopes with Bangladesh win
Oil prices surge on Red Sea escalation
Oil prices surged four percent on Friday after US and UK forces launched strikes against Iran-backed Huthi rebels following their attacks on ships in the Red Sea, fuelling worries about a wider conflict in the crude-rich region.
Tokyo and European stock markets ended the week with strong gains as traders brushed off data showing US inflation rose more than expected in December.
Wall Street had ended flat on Thursday, while the dollar was closing the week with gains against the euro.
Ahead of annual earnings from top US banks, focus was on the luxury sector after British fashion brand Burberry posted a profit warning, sending its share price sliding more than nine percent nearing the half-way stage in London.
That fed through to peers, with Gucci-owner Kering losing 1.7 percent in Paris, where LVMH was down 1.4 percent.
The oil market was in sharp focus as US and British forces struck rebel-held Yemen on Friday after weeks of attacks on Red Sea shipping by the Iran-backed Huthis, who say they are acting in solidarity with Palestinians in war-ravaged Gaza.
"The fear in the oil market is that the region is on an unpredictable escalating path, where at some point down the road supply of oil will indeed in the end be lost," noted Bjarne Schieldrop, chief commodities analyst at SEB bank.
The Huthis have carried out a growing number of strikes on vessels in the Red Sea, a key international shipping route, since the Gaza war erupted in October.
The attacks have affected trade flows at a time when supply strains are putting upward pressure on inflation globally.
The jump in oil prices sparked concerns about a fresh spike in inflation that could complicate central bank efforts to cut interest rates.
The US consumer price index rose more than forecast in December, dealing a blow to prospects that the Federal Reserve would start its rate-cutting cycle in March.
Interest rates around the world had surged in 2022 and 2023 in a bid to cool decades-high inflation.
While rates of price rises have slowed, inflation remains above target for the Fed, European Central Bank and Bank of England.
- Key figures around 1100 GMT -
Brent North Sea Crude: UP 4.0 percent at $80.51 per barrel
West Texas Intermediate: UP 4.0 percent at $74.88 per barrel
London - FTSE 100: UP 0.8 percent at 7,635.09 points
Paris - CAC 40: UP 1.0 percent at 7,462.96
Frankfurt - DAX: UP 0.9 percent at 16,685.69
EURO STOXX 50: UP 0.9 percent at 4,481.85
Tokyo - Nikkei 225: UP 1.5 percent at 35,577.11 (close)
Hong Kong - Hang Seng Index: DOWN 0.4 percent at 16,244.58 (close)
Shanghai - Composite: DOWN 0.2 percent at 2,881.98 (close)
New York - Dow: FLAT at 37,711.02 (close)
Euro/dollar: DOWN at $1.0962 from $1.0969
Dollar/yen: DOWN at 145.15 yen from 145.29 yen on Thursday
Pound/dollar: DOWN at $1.2754 from $1.2770
Euro/pound: DOWN at 85.93 pence from 85.94 pence
C.Garcia--AMWN