The Japan Times - Stocks up before US inflation, ECB rate call

The dollar gained versus the euro and other main rivals.

An update on the US consumer price index is due Thursday, one day after official figures showed producer prices falling in the world's biggest economy.

Together with recent weak US jobs numbers, analysts expect the Federal Reserve to cut interest rates before the end of the year.

Thursday's data should provide further clues over by how much the Fed intends to reduce borrowing costs at its September meeting.

"A softer-than-expected set of numbers could fuel bets of a jumbo Fed cut next week to support a weakening jobs market," noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Ahead of the US inflation report, the European Central Bank is expected to hold its key interest rate steady at two percent for its second straight meeting, with eurozone inflation under control and trade tensions having eased.

Wall Street's S&P 500 hit a fresh record high Wednesday thanks to a surge in the share price of Oracle.

The software giant projected huge revenue growth as it prospers from an investment boom in artificial intelligence.

In Asia, the Tokyo stock market hit a record high, helped by a 10-percent surge in the share price of tech investment titan SoftBank.

Oil prices fell Thursday as ample supply of crude helps to offset this week's escalation of tensions in the Middle East and over the Russia-Ukraine war.

The International Energy Agency on Thursday said global oil supply hit a record high in August as OPEC+ and other countries ramped up production, with a looming surplus keeping prices in check.

- Key figures at around 1050 GMT -

London - FTSE 100: UP 0.5 percent at 9,274.16 points

Paris - CAC 40: UP 0.8 percent at 7,825.89

Frankfurt - DAX: UP 0.2 percent at 23,674.47

Tokyo - Nikkei 225: UP 1.2 percent at 44,372.50 (close)

Hong Kong - Hang Seng Index: DOWN 0.4 percent at 26,086.32 (close)

Shanghai - Composite: UP 1.7 percent at 3,875.31 (close)

New York - Dow: DOWN 0.5 percent at 45,490.92 (close)

Euro/dollar: DOWN at $1.1681 from $1.1696 on Wednesday

Pound/dollar: DOWN at $1.3504 from $1.3528

Dollar/yen: UP at 147.96 from 147.40 yen

Euro/pound: UP at 86.47 pence from 86.46 pence

Brent North Sea Crude: DOWN 0.7 percent at $67.02 per barrel

West Texas Intermediate: DOWN 0.8 percent at $63.14 per barrel

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M.Matsumoto--JT