- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- Hezbollah fires at Israel as wars rage on Yom Kippur
- Analysts warn more detail needed on new China economic measures
- China tees up fresh spending to boost ailing economy
- China says will issue special bonds to boost ailing economy
- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
Global stocks rebound begins to fizzle
A rebound in global stocks appeared to fizzle on Thursday, with Wall Street held back by lacklustre data and London by news the UK economy had fallen into recession.
Wall Street stocks edged higher at the opening bell after data showed US retail sales fell by a greater-than-expected 0.8 percent last month, bogged down by weak auto sales and lower gas prices.
Strong consumer spending helped prop up US economic growth last year, and while a bit of a slowdown could support efforts by the US Federal Reserve to reduce inflation, a persistent drop would spark worries about the strength of the economy.
January US industrial production also disappointed, edging higher 0.1 percent, compared to expectations of a 0.3 percent increase.
Meanwhile, eurozone stocks advanced despite the European Commission cutting growth forecasts, with both Paris and Frankfurt setting new intraday highs thanks to strong corporate results.
Carmakers drove the Paris stock market upwards after Stellantis posted record 2023 profits as demand revved higher for new vehicles, one day after news of bumper annual earnings from its French rival Renault.
Renault and Stellantis saw their shares rally over five percent and topped the risers board.
Frankfurt stocks advanced strongly after Commerzbank revealed that higher interest rates had helped it achieve its biggest annual net profit in 15 years, sending shares in Germany's second-largest lender also up more than five percent.
London equities, however, stagnated after official data showed the UK entered recession at the end of last year, as high inflation prolonged a cost-of-living crisis for millions of Britons.
UK gross domestic product shrank 0.3 percent in the fourth quarter of 2023 after contracting 0.1 percent in the prior three months.
That places the economy in recession, which is defined as two quarters in a row of falling GDP. The news came on the same day it was revealed that fellow G7 nation Japan was also in recession.
"European markets are (mostly) on the rise..., with the FTSE 100 lagging its mainland peers after the UK slumped into a technical recession," noted Scope Markets analyst Joshua Mahony.
Most Asian markets rose also Thursday, tracking Wall Street's Wednesday rebound and following positive remarks from a senior Federal Reserve official that US inflation was headed in the right direction.
Figures on Tuesday showing the US consumer price index slowed less than expected in January dealt a body blow to hopes of an early US interest rate cut and sent Asia indices mostly lower.
But investors returned to buying on expectations borrowing costs will be reduced this year, while traders also cheered strong earnings releases that soothed any worries about companies' bottom lines.
Tokyo stocks rallied despite official data showing that the Japanese economy had entered recession -- and has been overtaken by Germany as the world's third-biggest economy.
Elsewhere, Taipei's Taiex stocks hit a record high, fuelled by a surge in chip giant Taiwan Semiconductor Manufacturing Company (TSMC) after it reported strong sales that lifted optimism for the sector and demand for chips used for artificial intelligence.
Jakarta stocks also rallied after defence minister Prabowo Subianto declared himself the winner in Indonesia's general election, a result observers said indicated policy continuity.
- Key figures around 1430 GMT -
New York - Dow: UP less than 0.1 percent at 38,447.29 points
New York - S&P 500: UP less than 0.1 percent at 5,003.79
New York - Nasdaq Composite: UP less than 0.1 percent at 15,873.77
London - FTSE 100: UP 0.1 percent at 7,576.15
Paris - CAC 40: UP 0.7 percent at 7,730.23
Frankfurt - DAX: UP 0.4 percent at 17,009.04
EURO STOXX 50: UP 0.5 percent at 4,732.71
Tokyo - Nikkei 225: UP 1.2 percent at 38,157.94 (close)
Hong Kong - Hang Seng Index: UP 0.4 percent at 15,944.63 (close)
Shanghai - Composite: Closed for holiday
Euro/dollar: UP at $1.0772 from $1.0730 on Wednesday
Dollar/yen: DOWN at 149.93 yen from 150.60 yen
Pound/dollar: UP at $1.2571 from $1.2564
Euro/pound: UP at 85.66 pence from 85.37 pence
Brent North Sea Crude: UP 0.2 percent at $81.74 per barrel
West Texas Intermediate: UP 0.3 percent at $76.88 per barrel
burs-rl/giv
Y.Nakamura--AMWN