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- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
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- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
European stock markets waver amid rocketing UK inflation
Europe's stock markets wavered Wednesday as investors digested news that UK inflation has spiked to a 40-year peak, stoking fear over the economic impact of sky-high global consumer prices.
London stocks eased 0.1 percent as official data showed British inflation hit 9 percent in April on runaway energy costs.
The news sent the pound sliding on fear that the cost-of-living crisis will spark a recession in Britain, in line with the Bank of England's recent forecast.
In the eurozone, Frankfurt equities flatlined and Paris also shed 0.1 percent in value.
- Recession 'increasingly inevitable' -
"It's been a relatively flat day so far," OANDA analyst Craig Erlam told AFP.
"A recession is looking increasingly inevitable in the UK and other countries... if the inflation data does not improve.
"That does not bode well for equity markets."
The technical definition of a recession is two quarters of economic contraction in a row.
Investors remain on red alert over decades-high inflation, which has surged around the world as Russia's invasion of Ukraine fuels spiking energy and food prices.
That in turn has sparked interest rate hikes from major central banks including the Bank of England and the US Federal Reserve, as they seek to contain runaway prices.
Asian equities traded mixed on Wednesday, despite strong Wall Street gains after brisk US retail sales data.
The Fed's monetary policy tightening has sent jolts through markets this year, deepening the apprehension of investors already roiled by China's Covid-19 lockdowns and Russia's invasion of Ukraine.
But there was some good news out of the United States, with data showing increased spending by Americans in April. Retail sales rose 0.9 percent -- partly boosted by a rebound in auto purchases.
Fed Chair Jerome Powell said Tuesday that there needs to be "clear" evidence that US inflation is coming down before efforts to cool the economy can be pulled back.
And he acknowledged that it may be a "bumpy" ride that would inflict some pain.
The world's largest economy also faces the fastest inflation in around four decades, prompting the Fed to go to battle to try to cool price pressures.
It announced earlier this month the biggest interest rate increase since 2000.
Powell said policymakers agree another aggressive increase is "on the table" in June and July.
- Key figures at around 1115 GMT -
London - FTSE 100: DOWN 0.1 percent at 7,510.88 points
Frankfurt - DAX: FLAT at percent at 14,189.08
Paris - CAC 40: DOWN 0.1 percent at 6,421.52
EURO STOXX 50: DOWN 0.2 percent at 3,734.18
Hong Kong - Hang Seng Index: UP 0.2 percent at 20,644.28 (close)
Shanghai - Composite: DOWN 0.3 percent at 3,085.98 (close)
Tokyo - Nikkei 225: UP 0.9 percent at 26,911.20 (close)
New York - Dow: UP 1.3 percent at 32,654.59 (close)
Brent North Sea crude: UP 1.1 percent at $113.16 per barrel
West Texas Intermediate: UP 1.5 percent at $114.05 per barrel
Euro/dollar: DOWN at $1.0523 from $1.0550 at 2100 GMT Tuesday
Pound/dollar: DOWN at $1.2415 from $1.2493
Euro/pound: UP at 84.76 pence from 84.45 pence
Dollar/yen: DOWN at 129.08 yen from 129.38 yen
T.Morelli--CPN