Global stocks mixed after Wall Street's losing week
BEIJING (AP) - Global stock markets were mixed Monday following Wall Street's losing week as investors looked ahead to data releases and public comments by central bankers.
KEEPING SCORE: In early trading, London's FTSE 100 rose 0.2 percent to 7,452.04 while France's CAC 40 was little changed at 5,377.12. Germany's DAX held steady at 13,134.78. On Friday, the FTSE 100 lost 0.7 percent, while the CAC 40 shed 0.5 percent and the DAX dipped 0.4 percent. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 index were unchanged.
ASIA'S DAY: The Shanghai Composite Index rose 0.4 percent to 3,447.84 while Tokyo's Nikkei 225 fell 1.3 percent to 22,380.99. Hong Kong's Hang Seng gained 0.2 percent to 29,182.18 and Seoul's Kospi shed 0.5 percent to 2,530.35. Sydney's S&P-ASX 200 retreated 0.1 percent to 6,021.80 and India's Sensex lost 0.4 percent to 33,164.85. Benchmarks in New Zealand and Jakarta advanced while Taiwan and Singapore fell.
WALL STREET: U.S. stocks fell for a second day Friday, the first time that has happened in a record-setting month. Medical device makers slumped after a Citigroup analyst said Amazon might be on the verge of shaking up their industry by speeding up distribution and cutting prices. Energy companies gave up some recent gains, while retailers, media companies and household goods companies moved higher. The S&P lost 0.1 percent, finishing the week down 0.2 percent after setting a record Wednesday. The Dow slid 0.2 percent while the Nasdaq rose 0.89 points.
WEEK AHEAD: Central banker Haruhiko Kuroda of Japan inaugurates a data-heavy week with a speech Monday, followed Tuesday by public comments from Janet Yellen of the United States, Mark Carney of Britain and Mario Draghi of the European Central Bank. The United States reports inflation and retail sales on Wednesday, while Japan reports factory output. U.S. factory output data follow on Thursday.
ANALYST'S TAKE: "We are likely to see October U.S. inflation dipping again (as hurricane effects drop out), confounding thoughts of a medium-term pickup in inflation as the economy tightens further," Rob Carnell of IG said in a report. "As well as inflation, the week ahead offers glimpses into recent economic growth in the G7. Individual Eurozone country GDP figures will start to emerge this week, with the bulk of them likely to support the prevailing view that Eurozone growth is pretty strong. Japanese GDP, however, is due a pullback from the 2Q surge."
ENERGY: Benchmark U.S. crude fell 5 cents to $56.69 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 43 cents on Friday to close at $56.74. Brent crude, used to price international oils, added 1 cent to $63.53 in London. It lost 39 cents the previous session to $63.52.
CURRENCY: The dollar rose to 113.44 yen from Friday's 113.21 yen. The euro advanced to $1.1645 from $1.1643.