China, HK stocks rise after fresh reports of easing COVID curbs
Economic slowdown fears temper risk sentiment
Gas prices rise as icy weather blankets Europe

LONDON, Dec 8 Reuters World stocks and oil prices battled to pull out of a fourday slide on Thursday as deeply inverted bond yield curves and choppy currency markets underscored the simmering concerns among investors about economic stagnation next year.

Signs of China relaxing its COVID curbs had sent Hong Kong39;s Hang Seng up more than 3 overnight and hoisted the yuan to a 3month high, but it was all much more subdued in Europe.

A groggy STOXX 600 which has recovered more than 15 since October barely budged early on, with only oil and gas stocks able to make any real headway as icy European weather sent natural gas prices up more than 5.

Benchmark government bond yields also ticked higher after hitting their lowest levels in months, in the runup to a raft of data and major central bank meetings next week, including the U.S. Federal Reserve, the European Central Bank and the Bank of England.

Everyone is just waiting to see what comes out in terms of the economic numbers and the central bank meetings next week, said Close Brothers Asset Management39;s Chief Investment Officer Robert Alster.

There is also China, he added, referring to the country39;s efforts to relax coronavirus curbs. It is really happening quite quickly now… So it could be pretty beneficial for 2023 as long as it doesn39;t stoke any…