Global stocks mixed after Christmas break

AP News
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Posted: Dec 28, 2015 5:13 AM

BEIJING (AP) — Global stocks were mixed in light trading Monday as markets reopened following the Christmas break.

KEEPING SCORE: In early trading, Germany's DAX slipped 0.1 percent to 10,727.00 and France's CAC-40 shed 0.3 percent to 4,647.47. Markets in London were closed for a holiday. On Thursday, the CAC-40 fell 0.2 percent and Britain's FTSE 100 closed up 0.2 percent. The DAX rose 1.8 percent on Wednesday, its last pre-Christmas trading day. Wall Street looked set for a lukewarm start, with futures for the Dow Jones industrial average down 0.2 percent and Standard & Poor's 500 dipping 0.1 percent.

ASIA'S DAY: Tokyo's Nikkei 225 index added 0.6 percent to 18,873.35 while the Shanghai Composite Index shed 2.6 percent to 3,533.78. Hong Kong's Hang Seng was off 1 percent at 21,919.62 and Sydney's S&P/ASX 200 gained 1.3 percent to 5,207.60. Seoul's Kospi retreated 1.3 percent to 1,964.06. New Zealand advanced while Taiwan and Singapore declined.

WALL STREET: Stocks closed lower Thursday in light Christmas Eve trading. The energy component of the Standard & Poor's 500 index fell 0.9 percent, the most of its 10 industry sectors. The Dow Jones industrial average lost 0.3 percent and the S&P 500 declined 0.2 percent. The Nasdaq composite lost less than 0.1 percent. The S&P 500 ended the week up nearly 3 percent and is back into positive territory for the year.

ANALYST'S TAKE: Trading "easing off into thin holiday markets should not lull one into complacency," said Mizuho Bank in a report. "Watch for renewed momentum in 2016!"

JAPANESE DOLDRUMS: Industrial production in November declined 1 percent month on month following two months of gains. Retail sales fell for the first time since June 2015. Analysts blamed unusually warm weather that hurt clothing sales and lower prices for fuel and fresh food. "Increased purchasing power gained by lower oil prices and larger seasonal bonuses for large corporations will probably provide only limited support to boost Japan's retail sales because overall wage growth remains slack," Harumi Taguchi of IHS Global Insight said in a report.

ENERGY: Benchmark U.S. crude shed 64 cents to $37.46 per barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the contract gained 60 cents to close at $38.10. Brent crude, which is used to price international oils, lost 62 cents to $37.27 per barrel in London. In the previous session, the contract rose 53 cents to close at $37.89.

CURRENCY: The dollar rose to 120.59 yen from 120.43 yen. The euro weakened to $1.0972 from $1.0976.