News Column

World stocks mostly rise on global growth optimism

June 11, 2014

TOKYO, Sha'ban 12, 1435, Jun 10, 2014, SPA -- Renewed optimism about the global economy helped push global stock markets higher Tuesday, AP reported.

Since late last week, investors have digested a raft of positive news from major economies: additional monetary stimulus in Europe, a solid U.S. jobs report for May, stronger first quarter growth in Japan and an improvement in China's exports.

Indications that the U.S. economy is on a roll this quarter after a bumpy start to the year have helped push American stock benchmarks higher for the past month.

European shares were mostly higher in early trading. Germany's DAX advanced 0.2 percent to 10,030.93, after a record close the previous day. The CAC-40 in France added 0.2 percent to 4,596.63. But Britain'sFTSE 100 fell 0.4 percent to 6,845.84.

Futures pointed to losses on Wall Street. Dow futures were off 0.1 percent at 16,917 and S&P 500 futures dropped 0.2 percent to 1,946.60.

The Nikkei 225, the benchmark for the Tokyo Stock Exchange, dropped 0.9 percent to 14,994.80, slipping beneath the key 15,000 mark.

The dollar fell to 102.34 yen from 102.51 yen late Monday. The euro dropped to $1.3559 from $1.3595.

Among other Asian stock markets, Hong Kong's Hang Seng rose 0.9 percent to 23,315.74 and South Korea's Kospi added 1.1 percent to 2,011.80.

Australia's S&P/ASX 200 rose 0.1 percent to 5,469.70. Markets in Southeast Asia were mostly higher.

In energy trading, benchmark U.S. crude for July delivery added 20 cents to $104.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.75 to close at $104.41 on Monday.


13:23 LOCAL TIME 10:23 GMT

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Source: Saudi Press Agency (Saudi Arabia)

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