Stocks globally recovered some of their recent losses on Wednesday after comments by U.S. Federal Reserve Chair Jerome Powell boosted investor hopes of further rate cuts this year, pressuring the dollar. European shares gained 0.6%, with French stocks adding 2.4% as LVMH shares jumped 12% after the world's largest luxury group reported upbeat earnings, in turn boosting the wider sector.

The positive mood was set to propel Wall Street stocks, too. Nasdaq futures were last up 0.8%, with S&P 500 futures advancing 0.6%. FED CHAIR POWELL STRIKES DOVISH TONE, MORE CUTS EXPECTED

Powell on Tuesday left the door open to further rate cuts and said the end of the central bank's long-running effort to shrink the size of its holdings may be coming into view. Powell "struck a more dovish tone than exp

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