European shares rise, Asian stocks mixed after upbeat open

FILE: TOKYO — 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. (Photo: Katrina.Tuliao/ Wikipedia)

TOKYO — 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 per cent. Germany’s DAX was up 0.1 per cent to 13,358.49. Britain’s FTSE 100 added nearly 0.1 per cent to 7,671.82. U.S. shares appeared set to be mixed, with Dow futures up 0.1 per cent at 26,630, while S&P 500 futures inched down less than 0.1 per cent 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 per cent to 32,966.89. The Shanghai Composite index lost nearly 1.0 per cent to 3,523.00. South Korea’s Kospi gained 0.9 per cent to 2,598.19 and the S&P ASX/200 in Australia added 0.4 per cent 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 per cent, to $66.14 a barrel in New York. Brent crude, used to price internationaloils, dropped 57 cents to $69.95 per barrel.