- Leaders of Egypt, Eritrea, Somalia meet amid regional tensions
- Klopp's Red Bull decision 'ruined life's work' say Dortmund fans
- Han Kang wins South Korea's first literature Nobel
- S. Korea's Nobel winner Han Kang a modest, thought-provoking writer
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- The almost impossible job: Beating Rafael Nadal at the French Open
- New French government faces key test with budget plan
- Rescuers say Israeli strike on Gaza school kills 28
- Italy's ex-world champion gymnast Ferrari announces retirement
- Zelensky talks 'victory plan' in meeting with Starmer, Rutte
- South Korea's Han Kang wins literature Nobel
- Federer lauds retiring Nadal's 'incredible achievements'
- Ikea posts fall in annual sales after lowering prices
- Australia beat China 3-1 to resurrect World Cup campaign
- Stock markets diverge, oil gains after China rebounds
- Nadal defied injury woes in record-breaking career
- Nadal v Djokovic, French Open, 2006: Chapter One in epic rivalry
- World can't 'waste time' trading climate change blame: COP29 hosts
- Pakistan at 23-1 after Brook triple hundred takes England to 823-7
- Zelensky meets Starmer, Rutte on whirlwind tour of Europe
- South Korean same-sex couples make push for marriage equality
- Rafael Nadal calls time on epic tennis career
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- Philippines confronts China over South China Sea at ASEAN meet
- Kim Sei-young shoots 62 to take two-stroke lead at LPGA Shanghai
- The haircuts that help traumatised Ukrainian soldiers heal
- Sinner crushes Medvedev to set up potential Alcaraz Shanghai semi
- 7-Eleven owner restructures to fight takeover
- England's Harry Brook blasts triple century against Pakistan
- Chinese electric car companies cope with European tariffs
- Zelensky in London for whirlwind tour of Europe ahead of US vote
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Record-breaking Root, Brook both pass 200 as England pile up 658-3
- Football mourns Greek defender George Baldock's shock death at 31
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Home is far away for Madagascar in AFCON qualifying
- Two months on, Donbas soldiers begin to question Kursk offensive
- Rugby Australia to counter-sue in dispute with Melbourne Rebels
- Mumbai mourns Indian industrialist Ratan Tata
- Philippines challenges China over South China Sea at ASEAN meet
- Mets advance on Lindor blast, Dodgers stay alive in MLB playoffs
- Injury-ravaged Krygios aiming to return at Australian Open
- Greek international Baldock, dead at 31: family
- EU talks deportation hubs to stem migration
- Deaths and repression sideline Suu Kyi's party ahead of Myanmar vote
- S. Africa offers a lesson on how not to shut down a coal plant
- China opens $71 bn 'swap facility' to boost markets
Europe stocks boosted by ECB rate cut signal; earnings in focus
Europe's stock markets rose Friday after the European Central Bank signalled a likely June interest rate cut, with London boosted by fresh hope that Britain has escaped from recession, as dealers also awaited the start of the US earnings season.
Gold hammered a record pinnacle at $2,400.67 per ounce as dealers flocked to the haven investment to shelter from intensifying Middle East tensions, which also propelled crude oil more than one percent higher.
The dollar climbed versus the euro as dealers digested increasing indications of a June rate reduction from the Frankfurt-based ECB.
Yet fading hopes for a similar June rate cut from the US Federal Reserve roiled Asian equities, which struggled to build on Wall Street's positive lead.
"Stock markets edged higher in Europe on Friday despite uneven performances across Asia overnight and rising global uncertainty," said ActivTrades analyst Pierre Veyret.
"Despite a few volatility spikes, EU stock investors reacted positively to ECB President Christine Lagarde's speech. The central banker reassured everyone, saying the ECB would stick to its rate-cut plan regardless of the recent hot inflation report in the US."
London stocks fizzed higher on data showing the UK economy grew for a second straight month in February, further fuelling recovery hopes after sliding into a shallow recession in the second half of last year.
- 'Welcome distraction' -
Attention is now turning to the corporate reporting season, which gets underway in earnest later in the day with banking giants JPMorgan and Citibank among those to log earnings.
Analysts said that while reducing interest rates would be a major boost for equities, investor optimism about company profits was crucial.
"The inception of the US first quarter earnings season brings a welcome distraction from the Fed's struggles in bringing inflation back down to target," said Scope Markets analyst Joshua Mahony.
Tech titans helped drive gains in the Nasdaq and S&P 500 after producer price index data broadly met expectations, tempering worries about inflation following Wednesday's figures showing a third successive upside miss in consumer price inflation.
The CPI figures followed a series of indicators suggesting the world's number one economy remained resilient and the jobs market strong despite interest rates sitting at two-decade highs and inflation still well above the Fed's target.
That has seen investors trim their US rate cut bets from six at the start of the year to two now.
Dimming hopes for rate cuts continued to support the dollar, which surged to another 34-year high above 153 yen, putting Japanese officials in the spotlight after they said they were ready to intervene in markets to support their currency.
- Key figures around 1040 GMT -
London - FTSE 100: UP 1.2 percent at 8,022.12 points
Paris - CAC 40: UP 0.8 percent at 8,086.88
Frankfurt - DAX: UP 0.8 percent at 18,101.37
EURO STOXX 50: UP 0.7 percent at 5,002.27
Tokyo - Nikkei 225: UP 0.2 percent at 39,523.55 (close)
Hong Kong - Hang Seng Index: DOWN 2.2 percent at 16,721.69 (close)
Shanghai - Composite: DOWN 0.5 percent at 3,019.47 (close)
New York - Dow: FLAT at 38,459.08 (close)
Dollar/yen: UP at 153.33 yen from 153.27 yen on Thursday
Euro/dollar: DOWN at $1.0660 from $1.0726
Pound/dollar: DOWN at $1.2491 from $1.2553
Euro/pound: DOWN at 85.33 pence from 85.44 pence
Brent North Sea Crude: UP 1.1 percent at $90.74 per barrel
West Texas Intermediate: UP 1.3 percent at $86.12 per barrel
burs-rfj/rl
P.M.Smith--AMWN