Arizona Tribune - Stock markets mostly advance as investors track company earnings

Fresh comments from US monetary policymakers pushing back against reducing borrowing costs too early failed to overshadow a string of upbeat reports from top firms this season, with entertainment giant Disney joining the parade with higher-than-expected quarterly profits.

"Higher rates don't appear to burden consumers or corporations significantly, enabling the Fed to wait longer to ensure inflation control without disrupting the stock market's momentum," said Stephen Innes at SPI Asset Management.

"It's becoming increasingly evident that equities are unfazed and indifferent to the Federal Reserve's less dovish stance, which suggests that unless there is a substantial deterioration in the labour market, the central bank's baseline expectation for 2024 includes three rate cuts."

Among eurozone stock markets, the Paris CAC 40 and Frankfurt DAX were up nearing midday trading.

Shares in French luxury giant Kering rose five percent despite a drop in annual sales and profit as the company refocuses its business around its top brand Gucci.

London's FTSE 100 index flattened as British drugs group AstraZeneca slid also more than six percent on concern over its outlook after posting bumper profits last year.

Shares of British American Tobacco rose almost eight percent despite reporting a 2023 loss as the company flagged the possible part-sale of its nearly 30-percent stake in Indian peer ITC.

Asia fluctuated Thursday, though Shanghai was again sharply higher heading into the Lunar New Year break following Chinese government moves to prop up the stock market.

China has announced measures and pledges aimed at boosting confidence on trading floors, including share buybacks.

Still, observers warned the moves would not solve the country's deeper economic problems -- particularly in the property sector -- which needed to be addressed to fully restore optimism.

Data showing China's consumer prices fell for a fourth straight month in January -- and at the sharpest pace since 2009 -- highlighted the hard work leaders face in turning the ship around.

Hong Kong was dealt a blow as shares in market-heavyweight Alibaba dived more than six percent, as a worse-than-expected earnings report overshadowed a huge stock buyback.

- Key figures around 1200 GMT -

London - FTSE 100: FLAT at 7,627.92 points

Paris - CAC 40: UP 0.5 percent at 7,649.91

Frankfurt - DAX: UP 0.2 percent at 16,962.38

EURO STOXX 50: UP 0.5 percent at 4,702.96

Tokyo - Nikkei 225: UP 2.1 percent at 36,863.28 (close)

Hong Kong - Hang Seng Index: DOWN 1.3 percent at 15,878.07 (close)

Shanghai - Composite: UP 1.3 percent at 2,865.90 (close)

New York - Dow: UP 0.4 percent at 38,677.36 points (close)

Dollar/yen: UP at 149.18 yen from 148.16 yen on Wednesday

Euro/dollar: DOWN at $1.0761 from $1.0777

Pound/dollar: DOWN at $1.2606 from $1.2628

Euro/pound: UP at 85.38 pence from 85.32 pence

Brent North Sea Crude: UP 1.1 percent at $80.04 per barrel

West Texas Intermediate: UP 1.0 percent at $74.59 per barrel

L.Adams--AT