- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- 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
Stocks rise but recession fears linger
US and European stock markets rose Friday after a global rout, but investors remain anxious that inflation-fighting interest rate hikes could spark a recession.
Investors were shaken this week after the US Federal Reserve unleashed its biggest hike in borrowing costs for almost 30 years to tackle runaway consumer prices.
This was followed by the fifth straight hike by the Bank of England and the first in 15 years by the Swiss central bank, underscoring the growing global concerns about inflation.
On Friday, however, the Bank of Japan stood by its decision not to raise its rate, sending the yen close to the lowest level against the dollar since 1998.
Officials in Tokyo insist that low rates are still needed to nurture a struggling economy, though the BoJ did say it "was necessary to pay due attention to developments in financial and foreign exchange markets".
Asian stock markets mostly closed lower Friday after an overnight slump on Wall Street.
US indices opened higher on Friday, with the Dow back up above 30,000 points after falling below the mark for the first time in more than a year.
European markets were all about 0.5 percent higher in afternoon trading, lower than earlier in the day.
"Stock markets are ending the week on a positive note, not that anyone is getting carried away with today's price action after turbulent trading conditions in recent days," said Craig Erlam, analyst at OANDA online trading platform.
"Recessions are increasingly likely as central banks race to dramatically raise rates before inflation spirals out of control," he said.
- 'Sinking feeling' -
Commentators remain unconvinced that Friday's rebound would be prolonged -- because they argue that further rate tightening is needed to bring down sky-high inflation.
Investors worry that while the rate increases can help tame inflation, they can have the adverse side effect of crimping economic growth.
"There is unlikely to be sustained relief from the sinking feeling that has hit financial markets this week, as worries rise that countries around the world won't avoid falling into the economic pit of recession," said Hargreaves Lansdown analyst Susannah Streeter.
"After the initial boost of optimism that the Federal Reserve was going to get a handle on inflation... concerns mounted that the price spiral was going to be an even harder nut to crack without fresh aggressive hikes."
Stock markets have been tumbling for months as traders contemplate the end of the era of cheap cash that had sent share prices to record or multi-year highs.
Inflation worldwide stands at levels not seen for decades owing in particular to surges in energy and food prices.
Oil prices, however, fell by more than two percent on Friday, though they remained elevated at more than $117 per barrel for the main international contract.
- Key figures at around 1340 GMT -
New York - Dow: UP 0.3 percent at 30,012.30 points
London - FTSE 100: UP 0.5 percent at 7,079.02
Frankfurt - DAX: UP 0.6 percent at 13,119.37
Paris - CAC 40: UP 0.6 percent at 5,921.31
EURO STOXX 50: UP 0.7 percent at 3,453.20
Tokyo - Nikkei 225: DOWN 1.8 percent at 25,963.00 (close)
Hong Kong - Hang Seng Index: UP 1.1 percent at 21,075.00 (close)
Shanghai - Composite: UP 1.0 percent at 3,316.79 (close)
Euro/dollar: DOWN at $1.0482 from $1.0549 late Thursday
Pound/dollar: DOWN at $1.2235 from $1.2353
Euro/pound: UP at 85.68 pence from 85.41 pence
Dollar/yen: UP at 134.80 yen from 132.21 yen
Brent North Sea crude: DOWN 2.2 percent at $117.15 per barrel
West Texas Intermediate: DOWN 2.4 percent at $112.45
burs-lth/jv
X.Karnes--AMWN