News Column

World stocks rise after US manufacturing report

July 2, 2014



LONDON, Ramadan 4, 1435, Jul 1, 2014, SPA -- World stock markets turned higher after reports showed manufacturing activity grew in the U.S. and China, AP reported.

In Europe, shares in BNP Paribas rose after the French bank said it had enough funds to pay a nearly $9 billion settlement of charges it violated U.S. trade sanctions.

By midafternoon in Europe, Britain'sFTSE 100 was up 0.7 percent to 6,788.95 while France's CAC 40 added 0.6 percent to 4,449.36. Germany's DAX rose 0.2 percent to 9,851.55.

Shares in BNP Paribas, France's biggest bank, rose 3.6 percent after it said would be able to handle the U.S. fine it got for violating sanctions.

In the U.S., the Dow was up 0.7 percent at 16,939.36 and the S&P 500 was up 0.6 percent at 1,970.94.

Earlier, in Asia, trading was subdued as investors appeared to shrug off the Chinese manufacturing data.

Mainland China's key benchmark, the Shanghai Composite Index, added 0.1 percent to 2,050.38. Markets in Hong Kong were closed for a public holiday.

Japan'sNikkei 225 gained 1.1 percent to 15,326.20 after the central bank released a survey showing better-than-expected business sentiment despite a decline in the April-June quarter.

Elsewhere, shares in South Korea and Australia also fell, while those in Taiwan and New Zealand gained.

In energy trading, benchmark U.S. crude for August delivery was up 29 cents to $105.66 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 37 cents on Monday.

In currencies, the dollar rose to 101.50 yen from 101.32 yen late Monday. The euro slipped to $1.3683 from $1.3693.

--SPA

18:01 LOCAL TIME 15:01 GMT



All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info).


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Source: Saudi Press Agency (Saudi Arabia)


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