LONDON: Global stock markets mostly rose Wednesday as investors cheered upbeat survey data, but weighed global recovery against the impact of the fast-spreading Delta variant of the coronavirus.
London stocks were up by 0.5 percent in mid-afternoon trading and Paris stocks rose by 0.8 percent, while Frankfurt had slipped into the red, easing by 0.1 percent.
On the other side of the Atlantic, Wall Street edged slightly higher at the start of trading.
World oil prices eased before a key output gathering of OPEC and other crude producing nations, while the dollar steadied ahead of key US employment data.
"European markets are on the rise," said Joshua Mahony, senior market analyst at online trading firm IG.
"We have largely seen upward momentum for growth in European manufacturing," he added in reference to bright PMI survey data for the region.
"There looks to me to be a lot of underlying optimism in the markets, despite the fact that the coming months will no doubt throw up some nasty surprises and businesses are already a little nervous about what the end of the year will bring," said Oanda analyst Craig Erlam.
"Of course, with plenty of data to come this week, including Friday's jobs report, the mood could change," he added.
However, economic optimism continues to be tested by the stuttering rollout of vaccines and a spike in infections in some countries, as well as China's drive to tighten its grip on the world's number two economy with a swathe of new regulations for private enterprises.
Indications by Federal Reserve chief Jerome Powell last week that the central bank will take it easy in winding back its ultra-loose monetary policy -- and even more cautious in hiking interest rates -- has helped fuel a healthy run-up this week.
Nevertheless, while the United States remains largely open thanks to a successful vaccine rollout, other countries that have administered fewer jabs are struggling with new waves of Covid-19 and are being forced to impose strict containment measures.
This has tempered hopes that the blockbuster economic recovery seen at the start of the year can be maintained.
Focus is now on the release Friday of US jobs data, which could have a huge bearing on when the Fed decides to start winding down its bond-buying financial support programme.
Key figures around 1330 GMT
London - FTSE 100: UP 0.4 percent at 7,150.28 points
Frankfurt - DAX 30: DOWN 0.2 percent at 15,799.21
Paris - CAC 40: UP 0.8 percent at 6,734.89
EURO STOXX 50: UP 0.5 percent at 4,215.41
New York - Dow: UP 0.1 percent at 35,407.37
Tokyo - Nikkei 225: UP 1.3 percent at 28,451.02 (close)
Hong Kong - Hang Seng Index: UP 0.6 percent at 26,028.29 (close)
Shanghai - Composite: UP 0.7 percent at 3,567.10 (close)
Euro/dollar: UP at $1.1846 from $1.1809
Pound/dollar: UP at $1.3792 from $1.3755
Euro/pound: UP at 85.88 pence from 85.86 pence
Dollar/yen: DOWN at 109.93 yen from 110.02 yen
West Texas Intermediate: DOWN 1.7 percent at $67.33 per barrel
Brent North Sea crude: DOWN 3.0 percent at $70.74 per barrel
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