- Police arrest suspect who set woman on fire in New York subway
- China vows 'cooperation' over ship linked to severed Baltic Sea cables
- Australian tennis star Purcell provisionally suspended for doping
- Asian markets track Wall St rally as US inflation eases rate fears
- Luxury Western goods line Russian stores, three years into sanctions
- Wallace and Gromit return with comic warning about AI dystopia
- Philippine military says will acquire US Typhon missile system
- Afghan bread, the humble centrepiece of every meal
- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - December 23
- Melrose Group Publicly Files Complaint to the Ontario Securities Commission
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
- Lonely this Christmas: Vendee skippers in low-key celebrations on high seas
- Troubled Man Utd humiliated by Bournemouth
- 2 US pilots shot down over Red Sea in 'friendly fire' incident: military
- Man Utd embarrassed by Bournemouth, Chelsea held at Everton
- France awaits fourth government of the year
European stocks rally before key Fed update
European stock markets powered higher Wednesday, recovering further from recent sharp losses, as traders await the outcome of a key Federal Reserve policy meeting.
After weeks of uncertainty, the US central bank delivers Wednesday its views on the state of the world's top economy and how officials plan to tackle decades-high inflation without knocking its recovery off course.
While Fed boss Jerome Powell has pledged that interest rate rises would be carefully calibrated, the prospect of higher borrowing costs has rattled markets across the world with most key indices deep in the red from the start of the year -- and with Wall Street particularly hard hit.
Powell's comments Wednesday will be pored over for signs of the Fed's plans, which most commentators believe include a first hike in March.
"The big question going into this meeting for traders and investors is whether the Fed will increase... four times this year and when the first interest rate hike will take place," said Naeem Aslam, chief market analyst at Avatrade.
"Market players understand that the Fed needs to raise the interest rate. Hence, they have prepared themselves for an interest rate hike next month."
Markets strategist Louis Navellier expects three rate hikes this year and that after the recent bout of selling across markets, added that buying opportunities were emerging.
"I'm very comfortable that we are going to have a bottom here soon. Remember, the market is a manic crowd," he noted.
While there remains some optimism among analysts about the outlook, the International Monetary Fund on Tuesday lowered its growth outlook for the global economy saying it has started the year "in a weaker position than previously expected".
It said Omicron threatened to set back the recovery as countries impose containment measures, while other issues remained, including inflation and geopolitical tensions.
Included in those tensions is the standoff on the Ukraine-Russia border, with Moscow building up troop numbers and the West led by the United States warning the risk of an invasion "remains imminent".
US President Joe Biden said such a move would prompt "enormous consequences" and even "change the world", adding that he would consider imposing direct sanctions on Russian counterpart Vladimir Putin on top of a raft of measures being drawn up.
- Key figures around 1200 GMT -
London - FTSE 100: UP 1.8 percent at 7,505.10 points
Paris - CAC 40: UP 2.3 percent at 6,992.99
Frankfurt - DAX: UP 2.3 percent at 15,465.71
EURO STOXX 50: UP 2.3 percent at 4,173.86
Tokyo - Nikkei 225: DOWN 0.4 percent at 27,011.33 (close)
Hong Kong - Hang Seng Index: UP 0.2 percent at 24,289.90 (close)
Shanghai - Composite: UP 0.7 percent at 3,455.67 (close)
New York - Dow: DOWN 0.2 percent at 34,297.73 (close)
Euro/dollar: DOWN at $1.1277 from $1.1305 late Tuesday
Pound/dollar: UP at $1.3511 from $1.3507
Euro/pound: DOWN at 83.45 pence from 83.66 pence
Dollar/yen: UP at 114.18 yen from 113.87 yen
Brent North Sea crude: UP 0.9 percent at $88.99 per barrel
West Texas Intermediate: UP 0.6 percent at $86.14 per barrel
D.Kaufman--AMWN