By place

Byzantine Empire

• March 24 – Second Battle of Pankaleia: An Ibero-Byzantine expeditionary force under General Bardas Phokas (the Younger) inflicts a crushing defeat on the rebels of General Bardas Skleros at Sarvenis (modern Turkey). Skleros manages to escape and founds shelter with his Muslim allies. The rebellion is subdued without difficulty.

Europe

• Vitale Candiano, doge of Venice, abdicates for health reasons after a 14-month reign and retires to a monastery. He is succeeded by Tribuno Memmo, a son-in-law of the murdered Pietro IV Candiano. Tribuno declares a general amnesty for everyone complicit in the plot against Pietro.^[1]
• June 8 – Louis V, nicknamed le Fainéant (the Do-Nothing), is crowned as the co-emperor of West Francia at Paris by his father, King Lothair. Upon Lothair's death on March 2, 986, Louis becomes the sole ruler.
• The city of Brussels is founded by Charles, duke of Lower Lorraine. He constructs fortifications (a castrum on an island) on the Senne River (modern Belgium).

England

• Tynwald (or Tynwald Court), the parliament of the Isle of Man, is founded. It remains active as the longest continuous parliament in the world.^[2]

Africa

• Jawhar as-Siqilli is dismissed as vizier of Egypt after an unsuccessful campaign in Syria (near Damascus). He is replaced by Ya'qub ibn Killis.

China

• Battle of Gaoliang River: Emperor Tai Zong leads an expedition into You Prefecture (or Youzhou). The Liao Dynasty counter-attacks and defeats the Song forces near modern-day Beijing.
• Summer – Tai Zong invades the Northern Han and besieges the capital of Taiyuan. A relief force sent by the Liao Dynasty is defeated. The Kingdom is absorbed into the Song Dynasty.