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| - European and Asian stock markets extended gains Tuesday following another record on Wall Street overnight, while the dollar hit a one-year high above 110 yen, fuelled by growing optimism about the global economic recovery. But Wall Street's main indices pulled back at the start on Tuesday as US government bond yields ticked higher on fears of a surge in inflation that the recovery is expected to bring with it. "It feels like the weakness in stocks this morning could reverse quickly if the pattern we've seen recently continues," said market analyst JJ Kinahan at TD Ameritrade. "It's a market that keeps going higher even though nobody seems to love it, and it's amazing to see new record highs posted nearly every day," he added. Wednesday's expected announcement of a multi-trillion-dollar infrastructure programme by the Biden administration could be a catalyst to move the market higher. The expected spending spree by the US government comes as Biden pledged that 90 percent of American adults will be eligible for vaccination by April 19. His goal of getting 200 million people jabbed within his first 100 days also appeared to be well on course. Still, the threat that the economic reopening will see a huge jump in spending continues to weigh on market sentiment as traders fret it will force the Fed to tighten its belt earlier than 2024, as flagged. US inflation remained stabilised for now, with data last week coming in below expectations. But markets analyst Louis Navellier noted that "China is starting to raise the price of some of their goods," and added, "we do have inflation out there brewing." Big data announcements are also due this week, with most analysts tipping the year-long rally across equities to continue this year despite recent stutters. The major call is Friday's US government employment report, which will give a fresh snapshot of the world's top economy as it slowly emerges from the crisis. Oil prices fell more than one percent on Tuesday as traffic resumed on the Suez Canal, while investors awaited Thursday's output meeting of OPEC and other major oil producers. Observers were also tracking fallout from the sale of billions of dollars worth of stock by troubled US fund Archego, which left several creditor banks exposed to huge losses, including Nomura of Japan and Switzerland's Credit Suisse. App-driven food delivery company Deliveroo is meanwhile set for London's largest stock market launch in a decade with a valuation of £7.6 billion. Deliveroo's initial public offering due Wednesday will be priced at £3.90 per share, a source close to the matter said Tuesday. That values the Amazon-backed British group at the equivalent of 8.9 billion euros or $10.5 billion. London - FTSE 100: UP 0.1 percent at 6,743.12 points Frankfurt - DAX 30: UP 0.7 percent at 14,928.09 Paris - CAC 40: UP 0.7 percent at 6,055.64 EURO STOXX 50: UP 0.6 percent at 3,904.76 New York - Dow: DOWN less than 0.1 percent at 33,146.50 Tokyo - Nikkei 225: UP 0.2 percent at 29,432.70 (close) Hong Kong - Hang Seng: UP 0.8 percent at 28,577.50 (close) Shanghai - Composite: UP 0.6 percent at 3,456.68 (close) Dollar/yen: UP at 110.36 yen from 109.81 yen at 2110 GMT Euro/dollar: DOWN at $1.1722 from $1.1764 Pound/dollar: DOWN at $1.3733 from $1.3765 Euro/pound: DOWN at 85.36 pence from 85.44 pence West Texas Intermediate: DOWN 1.6 percent at $60.59 per barrel Brent North Sea crude: DOWN 1.3 percent at $64.14 per barrel burs-rl/wai
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