Global shares mixed as Asia rally sputters in Europe | Business – Alabama News

Global shares mixed as Asia rally sputters in Europe | Business – Alabama News

HONG KONG (AP) — Global shares are mixed after a rally in Asia sputtered out in early European trading.

KEEPING SCORE: European shares fell back after opening mostly higher. Britain’s FTSE 100 gained 0.3 percent to 7,407.33 and Germany’s DAX ticked down a fraction of a percent to 12,645.28. France’s CAC 40 lost 0.5 percent to 5,228.34. Wall Street was poised to open higher. Dow futures were up 0.1 percent to 21,425.00 and the broader S&P 500 futures climbed 0.1 percent to 2,441.30.

KEEPING SCORE: Japan’s benchmark Nikkei 225 index rose 0.5 percent to close at 20,220.30 and South Korea’s Kospi advanced 0.6 percent to 2,395.66. Hong Kong’s Hang Seng gained 1.1 percent to 25,965.42 and the Shanghai Composite added 0.5 percent to 3,188.06. Australia’s S&P/ASX 200 climbed 1.1 percent to 5,818.10.

QUOTEWORTHY: “Central bankers have shifted market thinking with apparently coordinated commentary suggesting higher interest rates sooner on the back of strengthening economies,” said Michael McCarthy, chief strategist at CMC Markets. “The result is a surge in shares and industrial commodities, and pressure on safe havens such as bonds and the U.S. dollar.”

DATA WATCH: Investors are awaiting the release of China’s official monthly indexes on factory and service sector activity Friday. The numbers are widely watched early indicators of the health of the world’s No. 2 economy and investors will be watching fresh insight into China’s recovery.

SMALL CAP SLUMP: Hong Kong’s small-cap stocks stabilized following a rout that took the board to its lowest ever…

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