Global stocks recover from AI-led bruising; central banks in focus

SYDNEY/LONDON, Dec 18 (Reuters): Global shares crept higher on Thursday, after the tech sector got hit by renewed concern over AI spending, and investors prepared for a series of central bank meetings that will probably reflect the divergence in worldwide monetary policy.
Geopolitical tensions are roiling commodities markets. Oil prices extended a rebound from five-year lows after President Donald Trump ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela. Silver hit a new record that helped pull up gold.
Sterling fell for a second day, after an unexpected drop in UK inflation on Wednesday all but guaranteed a rate cut from the Bank of England later on Thursday.
The European Central Bank also delivers its policy decision on Thursday and is widely expected to leave rates unchanged, while traders expect Japan to raise rates on Friday but are less certain about the pace of tightening next year.
Shares in Europe rose broadly, lifting the STOXX 600 by 0.1 per cent, while US stock futures , rose 0.3-0.6 per cent, suggesting there may be some respite for the benchmark indexes after Wednesday's wash-out.
Concern over record AI spending resurfaced after Oracle announced an equity deal to support a data centre project would not include a key partner, Blue Owl Capital. Its shares tumbled 5.4 per cent, meaning they have now lost 50 per cent of their value since mid-September, when a deal with OpenAI sparked a 35 per cent one-day rise.