Shares advanced in Europe after a mixed session Thursday in Asia as uncertainty persists over interest rates and inflation.
Benchmarks rose in Paris, London, Shanghai and Hong Kong but fell in Tokyo, Seoul and Sydney. U.S. futures gained while oil prices also were higher.
Wall Street retreated Wednesday following a set of mixed earnings reports. The pullback also followed comments Tuesday by Federal Reserve Chair Jerome Powell, who signaled that an exceptionally strong U.S. jobs report last Friday would not oblige the central bank to return to a more aggressive stance on raising interest rates to tame inflation.
"Traders are keeping a close eye on policymakers' remarks to position accordingly ahead of key upcoming inflation figures and job market data before next month's rate decision," Anderson Alves of ActivTrades said in a commentary. Hong Kong's Hang Seng index gained 1.6% to 21,624.36, while the Shanghai Composite index advanced 1.2% to 3,270.38.The Fed has been saying that it plans to hike interest rates a couple more times and then hold them at a high level at least through the end of the year. Williams warned that interest rates may need to go higher if stock prices rally and bond yields fall too much, among other loosening financial conditions, because that could drive inflation higher.
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