Global Shares Muted Ahead of Holiday 11/20 06:10
Global shares were mostly lower in muted trading Monday ahead of the
Thanksgiving holidays in the U.S., as gloom carried over from Friday's retreat
on Wall Street.
TOKYO (AP) -- Global shares were mostly lower in muted trading Monday ahead
of the Thanksgiving holidays in the U.S., as gloom carried over from Friday's
retreat on Wall Street.
KEEPING SCORE: France's CAC 40 fell 0.1 percent in early trading to
5,312.37, while Germany's DAX lost 0.3 percent to 12,959.45. Britain's FTSE 100
lost nearly 0.4 percent to 7,352.88. U.S. shares were also set to drift lower,
with Dow futures down nearly 0.2 percent at 23,281. S&P 500 futures were also
down nearly 0.2 percent at 2,571.80.
THE QUOTE: "Thanksgiving week in the U.S. and a rather light data calendar
could set the stage for a fairly quiet week. But best not to confuse quiet for
calm," says Vishnu Varathan of Mizuho Bank in Singapore.
GERMAN ANGST: Germany faced an uncertain political future on Monday after
weeks of talks on forming a new government collapsed amid dissension over
climate change and migration policies. Chancellor Angela Merkel, who has led
the country since 2005, was set to consult the country's president, raising the
possibility of new elections.
JAPAN TRADE: Japan's trade surplus fell more than 40 percent in October from
a year earlier, despite strong growth in exports to China, the U.S. and the EU,
as costs for imports of oil, gas and coal surged. Customs figures released
Monday showed imports rose almost 19 percent from the same month a year earlier
in October to 6.41 trillion yen ($57 billion) while exports were up 14 percent
at 6.7 trillion yen ($59 billion). The resulting surplus of 285.4 billion yen
($2.54 billion) compared with a 481.2 billion yen surplus a year earlier.
ASIA'S DAY: Japan's benchmark Nikkei 225 index lost 0.6 percent to finish at
22,261.76 and Australia's S&P/ASX 200 fell 0.2 percent to 5,945.70. South
Korea's Kospi shed 0.3 percent to 2,527.67. Hong Kong's Hang Seng added 0.2
percent at 29,260.31, while the Shanghai Composite index gained 0.3 percent to
3,392.40. India's Sensex slipped 0.1 percent to 33,315.45 and markets in
Southeast Asia were mixed.
ENERGY: Benchmark U.S. crude added 8 cents to $56.79 a barrel in electronic
trading on the New York Mercantile Exchange. It gained $1.36 a barrel on
Friday, to $55.71 a barrel. Brent crude, used to price international oils, lost
22 cents to $62.52 a barrel in London.
CURRENCIES: The dollar fell to 112.02 yen from 112.09 yen. The euro slipped
to $1.1762 from $1.1791.