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- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
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- US dockworkers launch mass strike a month before election
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- 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
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- 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
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- 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
Global stocks push higher
Global stocks pushed higher on Friday as investors hoped that rising global interest rates would curtail sky-high inflation.
The latest data from the United States showed inflation was moderating, helping boost sentiment.
US personal income rose 0.4 percent in April compared to March, according to a Commerce Department report.
Meanwhile, the PCE price index slowed sharply, increasing just 0.2 percent after several months of accelerating at more than twice that pace and 0.9 percent in March.
Over the last 12 months, the key inflation measure slowed to 6.3 percent from 6.6 percent in the prior month, according to the data.
Excluding volatile food and energy goods, the increase in the "core" PCE price index was a more modest 4.9 percent.
The PCE is the US Federal Reserve's preferred price gauge, and the central bank has launched a counter-offensive against inflation with a series of aggressive interest rate hikes to cool the economy.
Those have battered stock markets in recent months as investors worried that the sharp hikes in interest rates will push the global economy into a recession.
"The key takeaway from the report ... is that there was a moderation in the year-over-year rates for the price indexes, which will support the peak inflation narrative," said market analyst Patrick J. O'Hare at Briefing.com.
Stock markets have bounced higher this week after the minutes of the last Federal Reserve meeting indicated that it could take a breather in hiking interest rates if inflation shows signs of easing later in the year.
- 'Tentative green shoots' -
"After a torrid few months, there are some tentative signs of green shoots emerging as investors become more comfortable with the stance of the central banks in tackling inflation," said Richard Hunter, head of markets at Interactive Investor.
Back in Asia, investors were in a buying mood as Hong Kong jumped more than two percent, with market heavyweight Alibaba piling on more than 11 percent and search engine Baidu advancing 15 percent.
The two firms posted better-than-expected sales growth in the January-March quarter, soothing fears about the impact of Covid and inflation on their bottom lines.
Hong Kong's tech index jumped nearly three percent, with other giants also enjoying buying interest with JD.com and Meituan sharply up.
The reports were much-needed pieces of good news out of the world's second-biggest economy, which is being battered by lockdowns in major cities as leaders refuse to budge from their zero-Covid strategy.
- Key figures at around 1330 GMT -
London - FTSE 100: UP 0.1 percent at 7,574.33 points
Frankfurt - DAX: UP 1.1 percent at 14,309.82
Paris - CAC 40: UP 1.2 percent at 6,485.65
EURO STOXX 50: UP 1.3 percent at 3,787.75
New York - Dow: UP 0.2 percent at 32,704.19
Tokyo - Nikkei 225: UP 0.7 percent at 26,7781.68 (close)
Hong Kong - Hang Seng Index: UP 2.9 percent at 20,697.36 (close)
Shanghai - Composite: UP 0.2 percent at 3,130.24 (close)
Euro/dollar: DOWN at $1.0722 from $1.0725 on Thursday
Pound/dollar: UP at $1.2633 from $1.2600
Euro/pound: DOWN at 84.88 pence from 85.12 pence
Dollar/yen: DOWN at 126.95 yen from 127.12 yen
Brent North Sea crude: UP 0.3 percent at $117.73 per barrel
West Texas Intermediate: DOWN less than 0.1 percent at $114.00
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A.Zimmermann--CPN