Arizona Tribune - Stocks rise on recovery hopes before inflation data

Investors brushed off warnings that US interest rates would continue to rise, as well as the World Bank's downgrade to its global growth forecast.

Asian and European equities mainly fizzed higher and Wall Street stocks also rose after opening, as the tech-heavy Nasdaq advanced for a third day.

"An upside bias is winning out thus far based on a prevailing view that weakening economic activity and fading inflation will help the Fed realise that it does not need to raise rates much further," market analyst Patrick O'Hare at Briefing.com said.

After wavering on Tuesday, markets resumed the upward push that has characterised the start of the year thanks to China's emergence from nearly three years of zero-Covid isolation.

The reopening, easing of Beijing's tech crackdown and moves to help the property sector have raised hopes for the world's number-two economy, a crucial driver of world growth.

"Many investors are starting to believe China's reopening could be faster than expected on pent-up demand, a robust economic rebound and fewer supply constraints," noted SPI Asset Management analyst Stephen Innes.

Focus this week is on Thursday's US consumer price index, which is expected to show that price gains eased further in December.

But while that could possibly allow the Federal Reserve to take a lighter approach to its monetary tightening campaign, policymakers continue to push back against any pivot away from rate hikes.

- Company news -

In London on Wednesday, shares in JD Sports topped the FTSE 100 index, jumping more than six percent after the retailer posted upbeat Christmas sales.

But Sainsbury dropped more than two percent after the supermarket group also logged rising festive sales -- but cautioned over the impact of the cost-of-living crisis.

Housebuilder Barratt Developments meanwhile slid 0.2 percent after it warned of a "marked slowdown" in the UK housing market, hit partly by economic uncertainty and rising home loan interest rates.

Cyber security firm Darktrace saw its share price tank more than 13 percent after cutting its annual revenue forecast due to the souring economic climate.

In Paris, shares in French luxury giant LVMH rose 2.3 percent after owner Bernard Arnault announced his daughter Delphine would head the empire's Dior fashion house, in a leadership reshuffle also featuring a new CEO at flagship brand Louis Vuitton.

- Key figures around 1445 GMT -

London - FTSE 100: UP 0.9 percent at 7,761.78 points

Frankfurt - DAX: UP 1.1 percent at 14,931.51

Paris - CAC 40: UP 1.0 percent at 6,940.49

EURO STOXX 50: UP 1.1 percent at 4,103.12

New York - Dow: UP 0.4 percent at 33,841.49

Tokyo - Nikkei 225: UP 1.0 percent at 26,446.00 (close)

Hong Kong - Hang Seng Index: UP 0.5 percent at 21,436.05 (close)

Shanghai - Composite: DOWN 0.2 percent at 3,161.84 (close)

Euro/dollar: UP at $1.0763 from $1.0733 on Tuesday

Dollar/yen: UP at 132.60 yen from 132.26 yen

Pound/dollar: DOWN at $1.2132 from $1.2154

Euro/pound: UP at 88.71 pence from 88.32 pence

Brent North Sea crude: UP 1.9 percent at $81.64 a barrel

West Texas Intermediate: UP 1.9 percent at $76.51

E.Flores--AT