- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
Stocks and oil advance, ruble retreats
European and US stock markets rose Thursday on relief about the pace of interest rate hikes, while the Russian ruble slumped following a cut in the interest rate.
Meanwhile, oil prices surged above $117 a barrel, hitting levels not seen since March.
"Another attempt at a relief rally is underway across equities, with a fairly substantial bounce across European and US markets coming in the wake of last night’s Fed minutes," said Chris Beauchamp, chief market analyst at online trading platform IG.
In the United States, central bankers stressed their "strong commitment and determination" to bring raging inflation under control via further large interest rate increases, according to the minutes of the latest policy meeting released Wednesday.
With US inflation rising at the fastest pace in nearly four decades, the Fed's policy committee early this month hiked the key rate by a half point -- the biggest increase since 2000.
Most members said similar increases "would likely be appropriate at the next couple of meetings", according to the minutes.
"While these minutes didn’t really add much to the outlook for monetary policy, they did at least calm fears that a faster pace of tightening is on the way," said Beauchamp.
"But beyond bargain hunting there seems little concrete rationale for the bounce, which leaves investors wondering whether next week will see yet another dramatic reversal in stocks," he added.
Stock markets have taken a beating this year as central banks have begun to raise interest rates in order to curb the highest consumer price rises in decades.
Economists fear the hikes, combined with supply disruptions due to the Ukraine war and the coronavirus pandemic, could tip many countries into recession.
Bucking the trend on borrowing costs however, Russia's central bank on Thursday slashed its key interest rate following an emergency meeting, as authorities seek to rein in the ruble which has surged in value following the invasion of Ukraine.
The ruble, which Wednesday hit a seven-year dollar high, slumped seven percent after Russia cut its interest rate to 11 percent from 14.
The ruble has been buoyed by capital controls and high energy prices amid the Ukraine war.
Across Asia on Thursday, stock markets were mixed after Chinese Premier Li Keqiang's warning that the world's number two economy was in some ways worse off now than during the early days of the pandemic.
It comes as China persists with a zero-Covid policy to eradicate the fast-spreading Omicron virus variant despite the economic agony caused by lockdowns that have knocked global supply chains.
Recent economic data has shown that a series of pledges by Beijing to kickstart growth has essentially fallen flat owing to a lack of concrete action, while analysts said the easing of the Covid policy was the only thing investors wanted to see.
Meanwhile, the UK announced a £15-billion ($19 billion) support package for consumers hit by soaring energy bills, paid for in part by a windfall profit tax on oil and gas companies.
The announcement had little impact on the shares of both BP and Shell, both of which rose following the removal of uncertainty about the measure, and oil prices moved even higher.
In corporate news, chipmaker Broadcom announced a $61-billion deal to purchase cloud computing firm VMware, which is being called one of the biggest technology acquisitions ever.
Shares in Broadcom climbed 2.8 percent, while those in VMware rose 2.1 percent.
- Key figures at around 1530 GMT -
New York - Dow: UP 1.5 percent at 32,587.01 points
EURO STOXX 50: UP 1.7 percent at 3,740.31
London - FTSE 100: UP 0.6 percent at 7,564.92 (close)
Frankfurt - DAX: UP 1.6 percent at 14,231.29 (close)
Paris - CAC 40: UP 1.8 percent at 6,410.58 (close)
Tokyo - Nikkei 225: DOWN 0.3 percent at 26,604.84 (close)
Hong Kong - Hang Seng Index: DOWN 0.3 percent at 20,116.20 (close)
Shanghai - Composite: UP 0.5 percent at 3,123.11 (close)
Euro/dollar: UP at $1.0728 from $1.0685 on Wednesday
Pound/dollar: UP at $1.2586 from $1.2579
Euro/pound: UP at 85.23 pence from 84.89 pence
Dollar/yen: UP at 127.35 yen from 127.26 yen
Brent North Sea crude: UP 2.7 percent at $117.08 per barrel
West Texas Intermediate: UP 3.5 percent at $114.21 per barrel
burs-rl/ach
L.Torres--PC