Higher oil fails to lift stock but yen, low-risk debt in favor

A rise in oil prices on Wednesday failed to lift European stocks, which instead sagged on weak earnings, prompting investors to seek safety in the Japanese yen, gold and low-risk government debt.

U.S. crude moved back above $30 a barrel and global benchmark Brent rose 52 cents to $33.24 after Russia reiterated its openness to talking with OPEC about output cuts - but only after a third consecutive day of oil price losses in Asia had weighed on regional stock markets.

Wall Street, however, looked set to open about 0.2% higher, according to index futures.