European shares rise, Asian stocks mixed after upbeat open

European shares rise, Asian stocks mixed after upbeat open
European shares rise, Asian stocks mixed after upbeat open

European indexes were mostly higher in early Monday trading although some Asian markets ceded initial gains from upbeat openings that tracked Friday’s rally on Wall Street.

KEEPING SCORE: France’s CAC 40 was higher in early trading at 5,534.64, up 0.1 percent. Germany’s DAX was up 0.1 percent to 13,358.49. Britain’s FTSE 100 added nearly 0.1 percent to 7,671.82. U.S. shares appeared set to be mixed, with Dow futures up 0.1 percent at 26,630, while S&P 500 futures inched down less than 0.1 percent at 2,873.10.

ASIA’S DAY: Japan’s benchmark Nikkei 225 finished flat at 23,629.34 and Hong Kong’s Hang Seng index lost 0.6 percent to 32,966.89. The Shanghai Composite index lost nearly 1.0 percent to 3,523.00. South Korea’s Kospi gained 0.9 percent to 2,598.19 and the S&P ASX/200 in Australia added 0.4 percent to 6,075.40. Shares rose in Taiwan, Singapore and Thailand but fell in Indonesia.

ANALYST’S VIEWPOINT: The Wall Street rally last week helped give markets some momentum, but “a data packed week and stock reporting seasons around the globe should see market focus turn to the numbers. A weakening U.S. dollar may prove a brake on any investor exuberance,” Michael McCarthy of CMC Markets said in a commentary.

CURRENCIES: The dollar fell to 108.96 yen from 109.26 late Friday in Asia. The euro fell to $1.2397 from $1.2443.

ENERGY: Benchmark U.S. crude rose 17 cents to $66.31 a barrel in electronic trading on the New York Mercantile Exchange. It rose 63 cents, or 1 percent, to $66.14 a barrel in New York. Brent crude, used to price international oils, dropped 57 cents to $69.95 per barrel.

 

Source: News Agencies