Sterling jumps after no-deal Brexit rejected; dollar softer

Tech stocks lead rebound as Boeing tumbles anew

In your inbox before the open, every day. An unexpectedly weak US inflation reading bolstered most shares on speculation the Fed can hold as the economy finds its footing. UK lawmakers rejected the idea of tearing the country out of the European Union with no agreement and UK Prime Minister Theresa May was said to plan to ask for an extension to the March 29 Brexit deadline lasting about two months.

The S&P 500 Index climbed for a third day, wiping out last week's losses and reaching a four-month high as it held above the key 2,800 level. U.S. producer prices barely rose in February, the U.S. Labor Department reported on Wednesday, resulting in the smallest annual increase in more than 1-1/2 years.

NEW YORK, March 13 (Reuters) - World equity markets broadly rose on Wednesday, lifted by investor optimism that British lawmakers will rule out a no-deal Brexit and fresh US data that highlighted a strong economy with low inflation, an outlook that weakened the dollar.

"It's pretty remarkable the strength of the market over the last couple of days", said Emily Roland, the head of capital markets research at John Hancock Investments. Tepid inflation and disappointing producer price data this week support the Fed's stance of keeping interest rates on hold, denting the dollar.

The British pound rose ahead of another vote in parliament on a proposal that would rule out a "no deal" exit from the European Union. But with the ECB introducing new long-term loans for banks and pushing back its rate hike expectations, investors have been warming towards European equities of late.

Elsewhere, oil pushed above US$58 a barrel in NY, boosted by a decline in United States crude and fuel stockpiles, adding to evidence of a tightening market.

The National People's Congress is set to wrap up on Friday.

Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board meet to decide on monetary policy.

Gambino crime family boss Frank Cali shot dead outside Staten Island home
Francesco "Franky Boy" Cali is said to have taken over the running of the organisation from Domenico Cefalu in 2015. According to reports, Cali's death marks the highest ranking member of a NY crime family to be murdered in decades.

The S&P 500 added to its best advance since January, with major media shares leading gains.

Japan's Nikkei rose 0.5 percent while Australian and New Zealand shares each added 0.2 percent. As well as exports being hit by falling Chinese demand, the recent emerging market currency crisis in places like Turkey has also weighed on growth. Sterling rose 0.83 percent to $1.3181 while the dollar softened against the yen and euro.

The British pound jumped 1.4 percent, the most in four months, to $1.3255. The dollar was 0.19 lower versus the Japanese yen at 111.19.

In afternoon trading, US 10-year note yields rose to 2.612 percent from 2.605 percent late on Tuesday. It shed 0.4 per cent overnight, at one point brushing a nine-day trough of 96.385.

Brent crude futures settled at $67.55 a barrel, up 88 cents, or 1.32 percent.

Spot gold gained 0.6 percent to $1,309.30 per ounce as of (2056 GMT), its highest level since March 1.US gold futures settled 0.9 percent higher at $1,309.3 per ounce.

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-With assistance from Adam Haigh, David Wilson, Robert Brand and Sarah Ponczek.

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