- China holds off on fresh stimulus but 'confident' will hit growth target
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Will Tesla's robotaxi reveal live up to hype?
- 'Invisibility' and quantum computing tipped for physics Nobel
- Oil prices extend gains on Mideast tensions, Wall Street falls
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- Mission to probe smashed asteroid launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Europe's asteroid mission Hera launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
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Europe stocks, euro rise on elevated eurozone inflation
European equities and the euro rose Wednesday as eurozone inflation slowed but remained elevated on high energy costs.
Markets were also buoyed by hopes that China will further ease its strict Covid containment measures following widespread protests, though gains were tempered by leaders' warnings of a crackdown on dissent.
Traders were awaiting a key speech by Federal Reserve chief Jerome Powell, with many expecting him to outline plans for future interest rate hikes to tackle high US consumer prices.
Eurozone inflation eased to 10 percent in November, the first drop in 17 months but holding in double figures, the EU statistics agency said.
- Focus on rising rates -
European Central Bank president Christine Lagarde has expressed scepticism that inflation has peaked.
"The ECB is still increasing (interest) rates and this is what traders are focused on," AvaTrade analyst Naeem Aslam told AFP, in reference to market reaction following the data.
Inflation in the bloc had hit a record 10.6 percent in October, boosted also by soaring energy and food bills in the wake of Russia's war in Ukraine.
"Euro area inflation figures surprised on the downside, providing an early indication that the record price pressures seen in recent months may have peaked," added CEBR economist Karl Thompson.
However, he warned that "inflation is nonetheless likely to remain elevated throughout 2023" and forecast rising rates next month.
Global central banks, including the Fed, have ramped up borrowing costs this year in a bid to dampen red-hot inflation that was fuelled also as economies reopened from the pandemic.
Meanwhile on Wednesday, Asian stocks mostly rebounded as investors looked past weekend demonstrations in China after officials announced moves aimed at softening the zero-Covid strategy.
But in a sign that the leadership was determined to maintain its authority, the country's top security body called for a "crackdown" against "hostile forces".
Data showing China's factory activity shrank further in November underscored the impact the zero-Covid approach has had on the world's second-biggest economy.
- Key figures around 1145 GMT -
London - FTSE 100: UP 0.7 percent at 7,563.21 points
Frankfurt - DAX: UP 0.4 percent at 14,411.52
Paris - CAC 40: UP 0.6 percent at 6,710.48
EURO STOXX 50: UP 0.6 percent at 3,958.81
Tokyo - Nikkei 225: DOWN 0.2 percent at 27,968.99 (close)
Hong Kong - Hang Seng Index: UP 2.2 percent at 18,597.23 (close)
Shanghai - Composite: UP 0.1 percent at 3,151.34 (close)
New York - Dow: FLAT at 33,852.53 (close)
Euro/dollar: UP at $1.0366 from $1.0330 on Tuesday
Dollar/yen: UP at 138.76 yen from 138.63 yen
Pound/dollar: UP at $1.2013 from $1.1952
Euro/pound: DOWN at 86.28 pence from 86.42 pence
Brent North Sea crude: UP 2.5 percent at $85.14 per barrel
West Texas Intermediate: UP 2.3 percent at $80.01 per barrel
M.Anderson--CPN