Monday, December 11, 2017

Global stocks rise as Wall Street breaks new records

By on October 3, 2017

TOKYO  — World stocks rose Tuesday as optimism about growth in global manufacturing drove Wall Street to more record highs the day before. Trading was somewhat subdued, however, by holidays in key markets like Germany, China and South Korea.

KEEPING SCORE: France’s CAC 40 edged up 0.2 percent to 5,360, while Britain’s FTSE 100 rose 0.1 percent to 7,443. Germany’s DAX was closed for a national holiday. U.S. shares were set to drift higher with Dow and S&P 500 futures both up 0.1 percent.

DATA DRIVE: Surveys on manufacturing released Monday were particularly strong for the U.S. and the eurozone. The data “suggest that global manufacturing remained strong in September, adding to evidence that the world economy ended the third quarter on a strong note,” said analysts at Capital Economics in London.

LAS VEGAS: In the U.S., MGM Resorts stock fell 5.6 percent on Monday after a man shot and killed at least 59 people and wounded more than 500 at a concert at MGM’s Mandalay Bay Hotel and Casino in Las Vegas. It was the deadliest mass shootings in U.S. history. The stock was down another 0.6 percent in pretrading on Tuesday.

ASIA’S DAY: Japan’s benchmark Nikkei 225 jumped 1.1 percent to finish at 20,614.07 as the yen weakened against the U.S. dollar, boosting exporters’ shares. Hong Kong’s Hang Seng added 2.3 percent to 28,179.07. Australia’s S&P/ASX 200 lost 0.5 percent to 5,701.40. India’s Sensex gained 0.7 percent to 31,486.65 and shares in Southeast Asia were mixed.

ENERGY: Benchmark U.S. crude fell 15 cents to $50.43 a barrel in electronic trading on the New York Mercantile Exchange. It lost $1.09, or 2.1 percent, to $50.58 a barrel overnight in New York. Brent crude, the standard for international oil prices, shed 15 cents as well, to $55.97 a barrel in London.

CURRENCIES: The dollar rose to 113.04 yen from 112.87 yen late Monday in Asia. The euro gained to $1.1751 from $1.1733.

image_print

You must be logged in to post a comment Login

Start your Free Trial for a limited time!