Global stocks rise on US stocks' gains and weaker yen

AP News
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Posted: Apr 21, 2016 5:11 AM
Global stocks rise on US stocks' gains and weaker yen

MANILA, Philippines (AP) — Global stocks were mostly higher Thursday, after U.S. stocks were lifted by an uptick in oil prices. A weakening of the Japanese yen pushed Tokyo's benchmark 2.7 percent higher.

KEEPING SCORE: Britain's FTSE 100 was down 0.2 percent at 6,394.78 in early trading. France's CAC 40 was down 0.1 percent to 4,588.31. German's DAX was up 0.2 percent at 10,440.67. Auguring a positive opening on Wall Street, Dow and S&P futures edged up 0.1 percent.

THE QUOTE: "Asian markets are breaking out," said Chris Weston, IG Chief Market Strategist. "Bulk commodities and oil ... are flying. This can't go on forever, but it's a freight train and not one I am prepared to get in front of."

ASIA'S DAY: Japan's benchmark Nikkei 225 ended 2.7 percent higher at 17,363.62, as exporters' shares gained, since a weaker yen usually tends to boost their profits. Hong Kong's Hang Seng climbed 1.8 percent to 21,622.25. The Shanghai Composite index shed early gains, falling 0.7 percent to 2,952.89. Australia's S&P/ASX 200 rose 1.1 percent to 5,336.40. South Korea's KOSPI added 0.8 percent to 2,022.10. Southeast Asian markets were higher.

ENERGY: Benchmark U.S. crude oil shed earlier gains, losing 6 cents to $44.12 a barrel in electronic trading on the New York Mercantile Exchange after a settlement of $44.18 a barrel on Wednesday. Brent crude, the international standard, edged 2 cents higher to $45.82 a barrel.

CURRENCIES: The euro fell to $1.1291 from $1.1303 on Wednesday. The dollar fell to 109.77 yen from 109.85 yen.