European stocks rose in early trade on Thursday as lower oil and gas prices eased investors’ worries about higher inflation.
The Pan-European Stocks 600 Index rose 1.1% on a broad-based buying wave, changing the course of its weekly losses as shares of mining companies, automakers and utilities advanced.
Oil prices fell for the second consecutive session, while the future of European gas fell from record levels.
There was also some support behind the US debt ceiling after US Senate Republican leader Mitch McConnell announced plans to extend the credit limit until December.
Japan’s Nikkei soared after eight-hour sessions on Thursday, with signs of progress in US political talks on the debt ceiling providing a bargain-hunting boost, but broad Topix failed to sustain gains.
Amid concerns about rising inflation around the world, investors have repurchased crumbling stocks for fear that the central banks may cut the stimulus faster than expected.
The Nikkei was up 0.54% at 27,678.21 points, but Topix was unable to maintain previous gains, down 0.19% to 1939.62 points, the ninth consecutive loss, the longest decline since 2012.
The decline in stocks has increased by almost three to two, which also indicates the weakness of market sentiment.
“Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator.”