- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Oil extends rally after Iran attack, Hong Kong soars again
- Prostitutes, prospectors drive spread in DR Congo mpox capital
- Oil extends rally after Iran attack, Hong Kong resumes surge
- Extreme heat another form of death sentence in Texas jails
- Can music help plants grow? Study suggests sound boosts fungus
- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- 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
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
Global stocks mostly rise as Fed reiterates plan to battle inflation
Global stocks mostly rose Wednesday as markets adopted an optimistic view of Federal Reserve minutes that reiterated plans to raise interest rates.
After a positive session in Europe and a choppy morning in New York, Wall Street rallied following the afternoon release of the minutes from the May meeting.
Analysts welcomed statements that the Fed intends to move "expeditiously" to increase the benchmark borrowing rate and offload the massive bond holdings to tamp down inflation, statements that investors hope could improve the picture before long.
"If the Fed is this aggressive, it's not impossible to think that by July or August you could see an improvement in inflation that might limit the need for further tightening," said Gregori Volokhine of Meeschaert Financial Services, adding that markets were also pleased that the minutes did not mention a three-quarters-point interest rate hike.
The broad-based S&P 500 finished one percent higher.
Earlier, London stocks closed 0.5 percent higher, with Frankfurt rising 0.6 percent and Paris 0.7 percent.
The gains came as the European Central Bank warned the Ukraine war has put financial markets under renewed stress by driving up prices and impeding growth.
The war has "increased financial stability risks through its impact on virtually all aspects of economic activity," ECB vice-president Luis de Guindos said in a statement.
Traders are also closely watching China, which continues to struggle with the fast-spreading Omicron coronavirus variant.
The world's second-biggest economy is sticking to its zero-Covid strategy despite the dire impact of lockdowns on growth.
And with no easing of that policy in sight, observers warned that a series of recent support measures would not be enough to lift optimism.
"Fiscal multipliers will be minimal in an economy where economic interaction and activity have slowed sharply," said Stephen Innes of SPI Asset Management.
"Moving beyond mobility restrictions in short order is a pre-condition, but not a guarantee, for an Asia-led economic recovery."
Russia's invasion of Ukraine has, meanwhile, put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report published Wednesday.
- Key figures at around 2130 GMT -
New York - Dow: UP 0.6 percent at 32,120.28 (close)
New York - S&P 500: UP 1.0 percent at 3,978.73 (close)
New York - Nasdaq: UP 1.5 percent at 11,434.74 (close)
London - FTSE 100: UP 0.5 percent at 7,522.75 (close)
Frankfurt - DAX: UP 0.6 percent at 14,007.93 (close)
Paris - CAC 40: UP 0.7 percent at 6,298.64 (close)
EURO STOXX 50: UP 0.8 percent at 3,677.10 (close)
Tokyo - Nikkei 225: DOWN 0.3 percent at 26,677.80 (close)
Hong Kong - Hang Seng Index: UP 0.3 percent at 20,171.27 (close)
Shanghai - Composite: UP 1.2 percent at 3,107.46 (close)
Euro/dollar: DOWN at $1.0685 from $1.0736 on Tuesday
Pound/dollar: UP at $1.2579 from $1.2532
Euro/pound: DOWN at 84.89 pence from 85.67 pence
Dollar/yen: UP at 127.26 yen from 126.83 yen
Brent North Sea crude: UP 0.4 percent at $114.03 per barrel
West Texas Intermediate: UP 0.5 percent at $110.33 per barrel
burs-jmb/to
L.K.Baumgartner--CPN