TOKYO (AP) — Global stocks mostly rose and the dollar weakened on Tuesday as crude oil prices recovered following recent heavy losses.
KEEPING SCORE: France’s CAC 40 added 0.4 percent to 5,033 and Germany’s DAX gained 0.1 percent to 12,068. Britain’s FTSE 100 edged 0.1 percent lower to 7,422. U.S. shares were set to advance with Dow futures trading up 0.1 percent and S&P 500 futures were 0.2 percent higher.
ENERGY: Benchmark U.S. crude added 34 cents to $48.56 a barrel in New York. Brent crude, used to price international oils, rose 39 cents to $52.01 a barrel in London. Both contracts had fallen in recent days amid reports that supply and stocks are high in the U.S., potentially offsetting the impact of an output trim by OPEC countries agreed on last year.
CURRENCIES: The pickup in the price of oil helped keep a lid on the dollar, which often moves inversely to the price of energy. The euro was up 0.6 percent on the day against the dollar, at $1.0809. The U.S. currency was roughly flat against the yen, at 112.57 yen. The pound jumped 0.8 percent higher at $1.2461 after high inflation figures in Britain raised the prospect of interest rate increases sooner rather than later. Higher rates tend to support a currency.
ASIA’S DAY: Earlier, Japan’s benchmark Nikkei 225 slipped 0.3 percent to finish at 19,455.88 and Australia’s S&P/ASX 200 inched down 0.1 percent to 5,774.60. South Korea’s Kospi added 1.0 percent to 2,178.38. Hong Kong’s Hang Seng rose 0.4 percent to 24,593.12, while the Shanghai Composite added 0.3 percent to 3,261.61.
JAPAN JITTERS: Shares came under selling pressure following a public holiday on Monday, as a weakening of the U.S. dollar against the yen added to worries over protectionist moves under U.S. President Donald Trump. The omission of the customary pledge to avoid protectionism from a statement by the Group of 20 major economies over the weekend underscored the challenges to free trade that have coincided with Trump’s vows to rewrite trade deals.
Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama
Her work can be found at http://bigstory.ap.org/content/yuri-kageyama
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Skin Cancer in Arizona: Stats, facts and new immunotherapy drugs making strides
- Caring Crisis: Rising tide In Alzheimer’s disease leads to shortage of caregivers
- Distracted walking injuries end up not so funny
- Scary situations: 5 quick tips before you let a contractor in your home
- Four ways telemedicine is changing the health care industry
- 5 mistakes homeowners make in the spring
- Three rivers run through it: Exploring Arizona's waterways
- Smart home basics: things you need to know to get started
- 5 Surprising things causing back pain
- Arizona agriculture is a $17.1B industry
- Timeline: Arizona's roots in brewing history
- 5 reasons to love the D-backs this season
- Tips for taking your home entertainment experience to the backyard
- Tech-related injuries your parents never experienced
- Workers comp: Signs your co-worker could be a fraud
- Who's the real founder of America's pastime?
- Epidemic rising? What you need to know about Alzheimer's in Arizona
- 5 unforgettable Wooden Award winners
- Family and hard work are keys to success of modern dairy farmers
- Genetic testing could hold answers for colon cancer survival
- Cold beers and baseball: A beer lover's guide to Spring Training
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments
- Here’s why Gaydos went tankless with his water heater
- Bocce ball and basketball: How you can help Arizona's Special Olympics athletes
- Tips on building the best wine room in Arizona
- Avoid the nightmare: 6 tips to choose a great contractor
- Breast cancer: Improved testing and treatments means more survivors
- Failed back surgery: New hope for patients living in pain