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- 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
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- 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'
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- Trump demonizes migrants in dark, misleading speech
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- US, European markets rise before Boeing unveils sweeping job cuts
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- Boeing to cut 10% of workforce as it sees big Q3 loss
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- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
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- 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
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- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
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- '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
- Hurricane Milton leaves at least 16 dead as Florida cleans up
Global stock markets stage pre-weekend rally
Europe's stocks rallied Friday, with Frankfurt and Paris striking more record peaks after solid Asian gains, as investors shrugged off recessions in Britain and Japan before publication of key US data.
Wall Street had leapt Thursday after the US Commerce Department reported a larger-than-expected 0.8-percent decline in retail sales for January.
That renewed investor hope of an early interest rate cut from the US Federal Reserve, sending markets shooting higher.
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them to refocus on the likelihood of an early Fed rate cut," Rabobank analyst Jane Foley told AFP.
"Risky assets are higher as a result," she added.
London equities also jumped as investors drew comfort from a contrasting January rebound in UK retail sales, one day after gloomy news that Britain has entered recession.
UK retail sales volumes surged 3.4 percent in January, the fastest increase in almost three years, after sliding 3.3 percent in December, official data showed.
Sentiment was buoyed also by a jump in annual net profit at NatWest, which sent the UK bank's share price up almost six percent.
Elsewhere, world oil prices slid after the Paris-based International Energy Agency warned of slowing global demand growth.
US and European stocks had rallied Thursday, with the broad-based S&P 500 up 0.6 percent to finish at an all-time high, along with Paris and Frankfurt.
London has marched higher despite official data showing Thursday the UK entered recession at the end of last year, as high inflation prolonged a cost-of-living crisis.
Japan also entered recession at the back end of 2023, according to data released Thursday, with the Asian nation overtaken by Germany as the world's third-biggest economy.
In foreign exchange activity Friday, the dollar wavered as dealers awaited US producer prices data in the United States for the latest steer on inflation.
Figures released on Tuesday showing the US consumer price index slowed less than expected in January dealt a blow to hopes of an early interest rate cut by the Fed and had sent Asian indices mostly lower.
But investors returned to buying on expectations borrowing costs will be reduced later this year.
The producer price index "will be closely watched by markets and should drive the near-term direction for the equity and bond markets", said Larry Tentarelli, chief technical strategist at Blue Chip Daily Trend Report.
- Key figures around 1115 GMT -
London - FTSE 100: UP 1.0 percent at 7,671.23 points
Paris - CAC 40: UP 0.7 percent at 7,798.44
Frankfurt - DAX: UP 0.9 percent at 17,193.24
EURO STOXX 50: UP 0.8 percent at 4,780.22
Tokyo - Nikkei 225: UP 0.9 percent at 38,487.24 (close)
Hong Kong - Hang Seng Index: UP 2.5 percent at 16,339.96 (close)
Shanghai - Composite: Closed for holiday
New York - Dow: UP 0.9 percent at 38,773.12 (close)
Euro/dollar: DOWN at $1.0769 from $1.0772 on Thursday
Dollar/yen: UP at 150.28 yen from 149.93 yen
Pound/dollar: DOWN at $1.2588 from $1.2600
Euro/pound: UP at 85.51 pence from 85.49 pence
Brent North Sea Crude: DOWN 1.0 percent at $82.03 per barrel
West Texas Intermediate: DOWN 0.9 percent at $77.34 per barrel
Th.Berger--AMWN