- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says 'very violent' Israeli strikes hit south Beirut
- Guardians maul Tigers, miracle Mets rally in MLB series openers
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Madrid beat Villarreal but Carvajal suffers knee injury
- Madrid beat Villarreal to move level with Liga leaders Barcelona
- Monaco take top spot in Ligue 1 with win at Rennes
- French rugby player on rape charge whistled but 'serene' on return
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Toddler among 3 dead in migrant Channel crossings
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Kovacic stars as Man City sink Fulham to get title bid back on track
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Thousands march for Palestinians ahead of Oct 7 anniversary
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Toddler crushed to death in migrant Channel crossing
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
- Struggling Pakistan look to thwart adaptable England
- Child 'trampled to death' in asylum seekers' Channel crossing: minister
Stocks rise as US economy posts decades-high growth
US and European stock markets rose on Thursday as investors put aside rate hike fears and focused on data showing the US economy grew at its fastest pace in decades last year.
European equity markets had mostly retreated in the morning session following sharp losses in Asia after US Federal Reserve chief Jerome Powell signalled a likely rate increase in March to tame inflation.
But the mood changed after the US Commerce Department released data the economy grew by 5.7 percent in 2021, its fastest rate since 1984.
Solid corporate earnings reports also helped this week, with several leading companies scoring higher profits despite ongoing pressures connected to Covid-19.
On Wall Street, the Dow Jones index rose 1.2 percent shortly after the opening bell to 34,695.09 points while London overturned earlier losses for a similar positive push.
Paris and Frankfurt likewise overcame early sluggishness to post small gains.
Oil prices also rose as Brent North Sea crude closed in on $91 per barrel.
Despite major markets moving back into the green, AJ Bell investment director Russ Mould sounded a note of caution regarding Powell's assessment.
"It's what he didn't say that troubled investors," Mould said.
"The key concerns are how aggressive the Fed will be with raising rates -- will they go up at every meeting this year, and will they go up by more than 0.25 percentage points each time?"
Fed officials still believe the price rises will be brought under control as economies reopen and supply chain problems abate, but the need to prevent them from running away is forcing them into an aggressive pivot.
"The tech-heavy Nasdaq had been hit hard by fears of a more hawkish Fed in the lead-up to the US central bank's rate decision, making this a case of 'sell the rumour, buy the fact'," said Fiona Cincotta, senior financial markets analyst at City Index, while noting "stellar" US growth data.
- Oil breaks $90 -
Elsewhere, oil prices were back on an upward curve with benchmark European contract Brent hovering just under the $91 mark having earlier broken $90 for the first time in seven years owing to rising Ukraine-Russia tensions and falling US crude stockpiles.
Eyes are now on the upcoming meeting of OPEC and other key producers, where they will discuss plans to continue to increase output.
"Energy traders are anticipating higher energy prices on potential geopolitical risks and as OPEC+ will stick to their plan to deliver another modest increase to production at next week's meeting," said OANDA's Edward Moya.
- Key figures around 1450 GMT -
New York - Dow: UP 1.2 percent at 34,695.09 points
London - FTSE 100: UP 1.3 percent at 7,559.94
Paris - CAC 40: UP 0.6 percent at 7,026.05
Frankfurt - DAX: UP 0.4 percent at 15,521.87
EURO STOXX 50: UP 0.5 percent at 4,189.17
Tokyo - Nikkei 225: DOWN 3.1 percent at 26,170.30 (close)
Hong Kong - Hang Seng Index: DOWN 2.0 percent at 23,807.00 (close)
Shanghai - Composite: DOWN 1.8 percent at 3,394.25 (close)
Euro/dollar: DOWN at $1.1152 from $1.1238 late Wednesday
Pound/dollar: DOWN at $1.3383 from $1.3458
Euro/pound: UP at 83.32 pence from 83.45 pence
Dollar/yen: UP at 115.41 yen from 114.64 yen
Brent North Sea crude: UP 1.0 percent at $90.87 per barrel
West Texas Intermediate: UP 1.0 percent at $88.28 per barrel
burs-cdw/lth
L.Harper--AMWN