World stocks mostly rose on Monday before a key Federal Reserve policy meeting later in the week, with investors hoping for a less hawkish tilt in plans for interest rate hikes.
Frankfurt and London equities climbed, but Paris slipped on news of record high eurozone inflation and slowing economic growth.
Asia mainly advanced, although Hong Kong and Shanghai sank on concerns over the economic impact of Chinese COVID restrictions.
That also weighed heavily on oil because China is a major global consumer.
'High priority'
Investors were nevertheless soothed by reports that the Fed could take its foot off the accelerator in its push to rein in decades-high inflation.
"The Fed decision is high priority – and the likelihood of a less hawkish Fed is increasing, which could benefit riskier assets" like equities, said XTM Market analyst Walid Koudmani.
The likelihood of a less hawkish Fed is increasing, which could benefit riskier assets- XTM Market analyst Walid Koudmani
"Furthermore, Friday's non-farm payrolls report is also going to be quite important as it will precede next week's mid-term US election and set the tone."
The Fed is expected to announce a fourth successive 75 basis point hike on Wednesday, but it could hint that officials are open to dialling back the pace of increases.
The gathering comes as other central banks recently indicated they are willing to ease up, with Canada raising rates less than expected last week.
The Bank of England is however expected to deliver another hefty rate hike on Thursday.
Concerns that rapidly rising borrowing costs will send economies into a recession have hammered markets globally this year.
Yet a better-than-expected earnings season has provided recent support, but investors remain on edge over red-hot inflation.
Eurozone economic growth fell to 0.2 per cent in the third quarter, as inflation hit another record high on the back of soaring energy prices, the EU's statistics agency said on Monday.
Consumer prices jumped by a fresh record of 10.7 per cent in October, stoked by an eye-watering 41.9 per cent rise in energy costs, Eurostat said.
The news came after the European Central Bank warned last week that a recession was looming, as it announced another jumbo interest rate hike to try to curb inflation driven up by the fallout from energy producer Russia's war on Ukraine.
"Double-digit inflation and decade-high interest rates do not bode well for eurozone growth during the rest of this year and into 2023," noted economist Benjamin Trevis at think-tank CEBR.
Wall Street meanwhile enjoyed strong gains before the weekend, thanks to a rally in tech firms after strong earnings from Apple.