European shares climbed the most in more than a week, with sentiment buoyed as Euro-zone inflation slowed for the first time in 1 1/2 years, offering a glimmer of hope to the European Central Bank in its fight against inflation. Contracts on the S&P500 and the Nasdaq 100 posted moderate advances, with the underlying indexes having endured three days of losses.
A degree of caution remains among traders before the Fed chair’s remarks, given still-high global inflation and a robust jobs market. Asian shares gained amid growing signs that China is easing its COVID-Zero policy. The offshore-traded yuan advanced, extending Tuesday’s rally, even as China’s factory and services activity contracted further in November, a reminder that widespread movement curbs continue to pressure economic growth.
Oil prices rose for a third day, after industry data pointed to a substantial draw in US crude stockpiles and investors counted down to an OPEC+ meeting that may see the group agree to cut production.
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