Nov 24 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com STOXX BOUNCES BACK: OIL UP, TRAVEL DOWN (0912 GMT) Some risk appetite has returned to markets, sending the STOXX 600 (.STOXX) equity benchmark rising a decent 0.5% in opening deals from three-week lows. Oil and gas (.SXEP) is the leading sectoral gainers, up 1.3% after a U.S. led release of strategic reserves fell short of expectations, triggering a bounce in crude prices. Other cyclical sectors were also in demand with banks (.SX7P) and miners (.SXPP) gaining around 1% or more, while worries over new restrictions to fight a fourth wave of virus infections sent travel stocks (.SXTP) to February lows. Angst over a currency crisis in Turkey appeared to loosen its grip over BBVA (BBVA.MC). Shares in the Spanish lender edged up from 4-month, having fallen six times in the previous seven sessions. Telecom Italia (TLIT.MI) climbed further, up 8% in heavy volumes, on media speculation U.S. fund KKR is looking into raising its proposed bid to win over reticent shareholders such as Vivendi (VIV.PA). (Danilo Masoni) ***** BRACE FOR IT (0757 GMT) If you were hoping that the day before a big U.S. public holiday would bring a semblance of calm, think again. First, before Thursday"s Thanksgiving holiday comes a slew of U.S. data -- weekly initial jobless claims, the second Q3 GDP print, personal income and personal spending numbers for October, new home sales, and preliminary readings for October durable goods orders. The PCE index, a key inflation indicator, will be in focus given the recent surge in inflation to three-decade highs. And not to forget minutes from the Fed"s last meeting - the one where they announced tapering - are also on the calendar. In Europe, Germany"s closely watched Ifo business indicator may better illustrate the impact of resurgent COVID caseloads than Tuesday"s upbeat PMI numbers. All of this comes against the context of increasingly edgy world markets as investors position for higher inflation and interest rates. Equity markets were particularly unnerved by a rise in real or inflation-adjusted yields in major economies. German 10-year inflation linked bond yields jumped nine basis points to 3-week highs on Tuesday, surpassing a 7 basis-point rise in nominal borrowing costs. That came after hawkish comments on inflation by two ECB policymakers. New Zealand"s central bank meanwhile hiked interest rates for the second straight month on Wednesday to keep surging consumer prices in check. read more Still, European stock futures are higher this morning. On Wall Street, where higher Treasury yields sent the tech-heavy Nasdaq down for two straight days, futures are flatlining. And don"t forget Turkey where the lira is headed back towards record lows hit during Tuesday"s 15% crash. With President Tayyip Erdogan defending recent rate cuts, the lira , is trading around 13 per dollar, down 22% since the beginning of last week. Contagion appears limited, but investors are watching closely. Lira underperforms EM peers Key developments that should provide more direction to markets on Wednesday: - Major Toshiba shareholder objects to break-up, urges board to solicit offers read more - Japan"s factory activity grows at fastest pace in nearly four years read more - ECB speakers: ECB board member Isabel Schnabel - Treasury 20-year bond auction (Dhara Ranasinghe) ***** EUROPE: TENTATIVE BOUNCE (0743 GMT) European shares look set for a tentative bounce from three week lows at the open today after a late session recovery on Wall Street that saw the S&P 500 close with a marginal gain. Rising U.S. yields and volatile oil prices however made for a jittery session in Asia with a MSCI gauge of Asia-Pacific shares outside Japan easing around 0.1%. read more Futures on the euro STOXX 50 and DAX indices were just above parity at the time of writing after earlier rising around 0.3%, although FTSE contracts were a touch lighter. In the previous session, the pan-regional STOXX 600 (.STOXX) index suffered its biggest one-day drop in around two months, as a resurgence in COVID-19 cases raised fears of new restrictions.