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* Mining, oil sector shares jump on commodities rally * Oil at one-year high, copper highest in nearly a decade * China shares falter on return from Lunar New Year * Bond yields steady after sell-off * Sentiment still positive on recovery hopes LONDON, Feb 18 (Reuters) – World stocks were battling to avoid a second day of declines on Thursday as hints of rising inflation led by a one-year high in oil prices and the strongest copper prices in nearly a decade kept traders in check after a boisterous run up. Europe’s markets managed to scrape together some modest early gains as commodities bulls drove drillers and miners up 2% to offset disappointing earnings from companies including Airbus and Orange. Wall Street futures were stuck in the red, though, and most of Asia’s indexes had dipped overnight. China returned from its Lunar New Year holiday to the sight its central bank draining 260 billion yuan ($40.31 billion) from money markets, raising concern about backdoor policy tightening. Government bond yields were taking a breather after the inflation-driven sell-off in global fixed income, although the commodities charge kept petro-currencies like the Canadian dollar, Norwegian crown and Russian rouble edging higher. […]
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