- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
- Mumbai mourns Indian industrialist Ratan Tata
Stock markets mixed before crucial Fed rate call
Wall Street fell but European stock markets rose on Wednesday as investors awaited the US Federal Reserve's latest interest rate decision following upheaval in the banking sector.
The mixed market sentiment follows a relief rally this week after financial authorities moved to prevent contagion in the banking system in the wake of the collapse of three US regional lenders this month.
Investors were now waiting to see if the Fed will continue its rate-hike campaign against inflation later Thursday or signal a possible pause.
The market has largely priced in a quarter percentage point hike.
"There isn't a fear of that rate hike, however, because market participants also think it will be one of the last ones in the Fed's tightening cycle before giving way to at least two rate cuts in the second half of the year," said market analyst Patrick O'Hare at Briefing.com.
"Some have been prone to suggest a rate hike today can be labeled a 'dovish hike,' thinking that the Fed -- should it in fact raise rates today -- will convey a desire to pause its rate hikes to allow time to assess the impact of the banking issues," he added.
A quarter-point increase would be in line with the size of the US central bank's previous rate hike in February, and mark the ninth increase since it began tightening monetary conditions last year.
Stocks moved modestly lower after trading began on Wall Street, with the Dow edging down 0.1 percent while the S&P 500 and tech-heavy Nasdaq both shed 0.2 percent.
In Europe, the main markets were modestly higher in afternoon trading days after troubled Swiss banking giant Credit Suisse was swallowed up by UBS, while Asia's main markets closed up.
With tensions in the banking sector blamed on steep hikes in borrowing costs over the past year, pressure is building on central banks to pause their monetary tightening campaign.
Stephen Innes, managing partner at SPI Asset Management, said the markets are also looking at a quarter-point hike as a message of reassurance by policymakers about the banking sector.
"The fact that they may feel obliged to hike to convince the market that everything is fine in the banking sector is a considerable problem," said Innes.
"They are making a mistake if they don't pause to allow time to figure this out," he added.
- 'Downside risks' -
US Treasury Secretary Janet Yellen on Tuesday reiterated support for troubled lenders in the world's biggest economy.
The downing of Silicon Valley Bank and Signature Bank forced authorities to promise customers would not lose their cash, a move aimed at preventing a run on other firms.
The Fed and other major central banks have also moved to improve lenders' access to liquidity.
"The reassurances and stability measures provided by authorities in recent days appear to be having an enduring positive effect," noted National Australia Bank analyst Rodrigo Catril.
European Central Bank chief Christine Lagarde on Wednesday said recent financial turbulence could add to "downside risks" in the eurozone.
Although Lagarde did not commit to further interest rate hikes for the eurozone, she said policymakers "still have ground to cover to make sure that inflation pressures are stamped out".
Official data showed British inflation rising again after recent falls from a four-decade high.
The UK Consumer Prices Index jumped to 10.4 percent in February, increasing the prospect of the Bank of England also raising rates on Thursday.
- Key figures around 1330 GMT -
London - FTSE 100: UP 0.2 percent at 7,548.46 points
Frankfurt - DAX: UP 0.5 percent at 15,270.99
Paris - CAC 40: UP 0.4 percent at 7,137.88
EURO STOXX 50: UP 0.4 percent at 4,200.17
New York - Dow: DOWN 0.1 percent at 32,523.14
Tokyo - Nikkei 225: UP 1.9 percent at 27,466.61 (close)
Hong Kong - Hang Seng Index: UP 1.7 percent at 19,591.43 (close)
Shanghai - Composite: UP 0.3 percent at 3,265.75 (close)
Euro/dollar: UP at $1.0790 from $1.0772 on Tuesday
Pound/dollar: UP at $1.22 58 from $1.2218
Euro/pound: DOWN at 88.00 pence from 88.13 pence
Dollar/yen: UP at 132.66 yen from 132.54 yen
West Texas Intermediate: UP 0.1 percent at $69.77 per barrel
Brent North Sea crude: UP 0.2 percent at $75.45 per barrel
burs-rl/lth
Ng.A.Adebayo--CPN