- Bayern hit nine, Real Madrid and Liverpool win as new Champions League kicks off
- Author John Grisham joins bid to save Texas death row inmate
- Venezuela arrests fourth American over alleged 'plot' against Maduro
- 'Happy' Mbappe strikes on Madrid Champions League debut win over Stuttgart
- Man Utd hit Barnsley for seven in League Cup rout
- Dolphins quarterback Tagovailoa facing concussion layoff
- Stylish Liverpool strut past Milan in confident Champions league opener
- Kane scores four as Bayern put nine past Zagreb in the Champions League
- Mbappe strikes on Madrid Champions League debut win over Stuttgart
- More than 3,600 food packaging chemicals found in human bodies
- Harris calls Trump as assassination scare sparks tensions
- Dow edges down from record as some eye a smaller Fed rate cut
- Sommer vows Inter will 'defend with all we have' to stop Haaland
- Report links meatpacking companies to 'war on nature' in Brazil
- Bolivian ex-leader Morales, backers set out on weeklong protest march
- Smith grateful to McCullum for launching his England career
- Arizona to ask court to rule on voting rights
- Villa make perfect start on Champions League return after 41-year absence
- Israeli supply chain infiltration likely behind Hezbollah pager blasts: analysts
- Rodgers backs Celtic to be 'really competitive' in Champions League
- Spacewalk an 'emotional experience' for private astronauts
- Storm Boris toll rises to 22 in central Europe
- Nine dead, 2,800 wounded as Lebanon's Hezbollah hit by pager blasts
- Boeing, union resume talks as strike empties Seattle plants
- Over 3,600 food packaging chemicals found in human bodies
- Australia's Zampa accepts Ashes chances remote as 100th ODI looms
- UN General Assembly debates call for end to Israeli occupation
- Marseille complete signing of French international Rabiot
- Easterby to fill in as Ireland coach while Farrell is with the Lions
- Hezbollah in Lebanon hit by wave of deadly pager blasts
- Postecoglou taken aback by criticism of his second season success claim
- US, European stocks rise on retail sales, rate cut expectations
- Fendi sees Roaring 20s at Milan Fashion Week in challenging times
- Ronaldo's Al Nassr part ways with coach Castro
- Scottish government backs Glasgow to stage troubled 2026 Commonwealth Games
- Storm Boris toll rises to 21 in central Europe
- Instagram, under pressure, tightens protection for teens
- Inflation slows again in Canada to 2%
- US, European stocks rise on eve of Fed rate decision
- EU bans Algerian spread toasted on social media
- Sean 'Diddy' Combs charged with racketeering, sex trafficking
- Trump returns to campaign trail after assassination scare
- Activist urges repatriation of Native Americans dead in Paris 'human zoo'
- US retail sales see slight rise, beating expectations
- US Fed begins two-day meeting set to end with rate cut
- Exploding Hezbollah pagers wound hundreds across Lebanon
- Runners-up Yokohama thrashed 7-3 in AFC Champions League goal fest
- Sean 'Diddy' Combs to plead not guilty to racketeering, sex trafficking
- Jihadist group claims rare attack on Mali capital
- 'I am a rapist,' Frenchman tells trial over mass rape of wife
ECB rate cut boosts European stocks as Wall Street extends rally
Europe's main stock markets climbed Thursday as the European Central Bank cut interest rates for the second time this year, while Wall Street equities shook off early weakness to also finish higher.
As the US Federal Reserve is expected to finally cut its own borrowing costs next week, the ECB reduced its key rate by a quarter percentage point again, as expected.
It was the same size as its previous cut in June, which marked the end of a record hiking cycle that began in mid-2022 to tame a surge in consumer prices.
Frankfurt and Paris stocks gave up some of their gains following the ECB announcement, which gave no indication on future rate cuts and was accompanied by a slight reduction in its growth forecasts.
The euro rose against the dollar following the decision.
"The ECB’s message may have been less dovish than expected today, but it did not seem to get through to financial markets on Thursday," said XTB brokerage's research director, Kathleen Brooks.
ECB policymakers "remain focused on inflation, rather than following the Fed by placing less emphasis on inflation and focusing instead on growth."
Brooks added that despite the relatively hawkish tone, markets still believe the ECB will cut rates in October and December, given the bloc's tepid growth.
Back in New York, US stocks finished solidly higher following a poor start as markets eye an expected Fed interset rate cut next week.
US wholesale prices rose by 0.2 percent in August, putting the benchmark on an annual basis at 1.7 percent, down from a revised 2.1 percent last month.
However, when volatile food and energy components were stripped out, wholesale prices rose by 0.3 percent, topping estimates.
The dynamic is similar to Wednesday's consumer price index report, which analysts said kept the Fed on track to cut interest rates next week.
All three major US indices advanced, with the S&P 500 winning 0.8 percent.
"The data helped validate the soft landing argument," said Briefing.com analyst Patrick O'Hare, who noted that investors were also motivated by a "fear of missing out" on gains.
The positive mood on stocks flowed through to Asia on Thursday, where Tokyo led gainers and jumped more than three percent after seven days of losses.
Among individual companies, Moderna plunged 12.4 percent after announcing it will reduce its annual research and development expenses by $1.1 billion starting in 2027.
Wells Fargo dropped 4.0 percent after the Office of the Comptroller of the Currency announced an enforcement action that will require the bank to fix defects in its financial crime risk management and anti-money laundering controls.
- Key figures around 2050 GMT -
New York - Dow: UP 0.6 percent at 41,096.77 (close)
New York - S&P 500: UP 0.8 percent at 5,595.76 (close)
New York - Nasdaq Composite: UP 1.0 percent at 17,569.68 (close)
London - FTSE 100: UP 0.6 percent at 8,240.97 (close)
Paris - CAC 40: UP 0.5 percent at 7,435.07 (close)
Frankfurt - DAX: UP 1.0 percent at 18,518.39 (close)
Tokyo - Nikkei 225: UP 3.4 percent at 36,833.27 (close)
Hong Kong - Hang Seng Index: UP 0.8 percent at 17,240.39 (close)
Shanghai - Composite: DOWN 0.2 percent at 2,717.12 (close)
Euro/dollar: UP at $1.1078 from $1.1012 on Wednesday
Pound/dollar: UP at $1.3126 from $1.3043
Euro/pound: DOWN at 84.36 pence from 84.42 pence
Dollar/yen: DOWN at 141.78 yen from 142.36 yen
Brent North Sea Crude: UP 1.9 percent at $71.97 per barrel
West Texas Intermediate: UP 2.5 percent at $68.97 per barrel
burs-jmb/bjt
M.Fischer--AMWN