- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
- Hezbollah drone strike kills four, wounds dozens at Israeli base
- China says launches military drills around Taiwan
- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
- AC Milan's Pulisic among five out for USA match in Mexico
- France's Amandine Henry retires from international football
- Centre-left set to win pro-Ukraine Lithuania's vote
- India's World Cup hopes in Pakistan hands after Australia defeat
- Zelensky says NKorea sending troops to Russian army
- England beat Finland to get back on track
- King and Lewis propel West Indies to T20 triumph over Sri Lanka
- Pre-Halloween 'Terrifier' lands atop North America box office
- 'I still plan to compete and play next season,' says Djokovic
- Harris, Trump seek advantage in knife-edge election battle
- Chepngetich shatters women's marathon world record in Chicago
- Kamindu and Asalanka power Sri Lanka to 179 against West Indies
- Chepngetich shatters women's marathon world record as Korir wins in Chicago
- Spain send injured Yamal home 'to prioritise player's health'
- In milestone, SpaceX 'catches' megarocket booster after test flight
- Iraq walks fine line with pro-Iran factions to avoid war
- Race four abandoned after New Zealand breeze into 3-0 lead in America's Cup
- West Indies win toss, put Sri Lanka in to bat in first T20
European equities rebound as ECB holds emergency meet
Europe's equities rebounded Wednesday as the European Central Bank began an emergency meet to discuss volatile eurozone bond markets and soaring inflation, while investors also braced for a major US rate hike.
Frankfurt, London and Paris stocks rallied and the euro rose against the dollar, as investors were reassured by news of the ad-hoc ECB gathering that started at 1000 GMT.
All three main indices had slid Tuesday on growing expectations that the Federal Reserve will move aggressively to combat inflation at the conclusion of its latest scheduled monetary policy meeting on Wednesday.
Bitcoin extended this week's precipitous slide to approach the key level of $20,000 as investors continued to shun risky crypto assets, while oil prices retreated further on lower energy demand expectations.
- 'Smacks of panic' -
Markets.com analyst Neil Wilson said the ECB meeting "smacks of panic and a lack of control -- but the market is happy to see it happen".
The borrowing costs of some eurozone countries have risen faster than those of others as the ECB tightens its monetary policy. The bank has vowed to prevent such "fragmentation".
The ECB is not to due to raise eurozone interest rates or to end its massive bond-buying stimulus programme until July.
However, eurozone countries are already facing higher borrowing costs on government bonds.
Asian stock markets closed mixed Wednesday with investors on edge over a looming Fed decision that has taken on greater significance since forecast-busting US inflation recently sent shockwaves through world markets.
Traders' screens were awash with red at the start of the week after data on Friday revealed that US consumer prices had soared at the fastest pace in four decades.
That confounded hopes that US inflation was stabilising and intensified pressure on policymakers to act.
The news ramped up bets that the Fed would hike interest rates at a steeper and faster pace than expected as it struggles to retain credibility.
Before Friday's data, the Fed had been tipped to lift borrowing costs by half a point when its policy meeting ends Wednesday but investors are now widely anticipating a three-quarter point increase, with some even suggesting one percentage point.
The moves fuelled worries that the tighter monetary conditions will deal a blow to the US economy and potentially send it into recession next year.
"There is no shortage of pessimism in the market and traders are on the edge as they know that central banks have made the biggest blunder by calling inflation transitory -- and their current policy is going to cause a great deal of pain," AvaTrade analyst Naeem Aslam told AFP.
- Key figures at around 1015 GMT -
London - FTSE 100: UP 1.3 percent at 7,282.83 points
Frankfurt - DAX: UP 1.1 percent at 13,455.95
Paris - CAC 40: UP 1.0 percent at 6,010.17
EURO STOXX 50: UP 1.1 percent at 3,513.45
Tokyo - Nikkei 225: DOWN 1.1 percent at 26,326.16 (close)
Hong Kong - Hang Seng Index: UP 1.1 percent at 21,308.21 (close)
Shanghai - Composite: UP 0.5 percent at 3,305.41 (close)
New York - Dow: DOWN 0.5 percent at 30,364.83 (close)
Euro/dollar: UP at $1.0488 from $1.0416 late Tuesday
Pound/dollar: UP at $1.2084 from $1.1997
Euro/pound: DOWN at 86.76 pence from 86.83 pence
Dollar/yen: DOWN at 134.46 yen from 135.47 yen
Brent North Sea crude: DOWN 1.2 percent at $119.74 per barrel
West Texas Intermediate: DOWN 1.2 percent at $117.48 per barrel
L.Mason--AMWN