Global Stocks Mixed in Thin Trade
December 28 2015 - 5:50AM
Dow Jones News
Global stocks were mixed on Monday in thin trade toward the
end-of-the-year holiday, with markets lacking fresh trading
cues.
The Stoxx Europe 600 was little changed in early trade and was
down 0.2%. Germany's DAX was flat, while France's CAC was down
0.4%.
U.S. stocks slipped Thursday but still posted their biggest
weekly gains in more than a month after investors bought shares in
the troubled energy sector in a holiday-shortened week. The slump
in commodity prices this year has dragged on stocks in the energy
and materials sectors.
Crude oil prices fell again on Monday in Asia and Europe, ending
a brief rally seen last week following a drop in U.S. oil
stockpiles.
Brent crude oil was last down 1.5% at $37.32 a barrel, with
prices remaining near multiyear lows.
Asian bourses were also mixed, with Tokyo bucking an overall
negative trend despite a weaker reading in industrial output and
retail sales in November, the latest signal of weakness in the
country's economy.
The Nikkei Stock Average rose 104.29 points, or 0.6%, to
18873.35 following a 1.1% fall last week, led by gains in
Panasonic, Takashimaya and Toray Industries.
The Shanghai Composite Index was down 2.6% at 3533.78. China
aims to loosen initial public offerings controls by May. This will
make approvals for new listings easier and more of a bureaucratic
matter, rather than a policy matter, potentially uncorking a flood
of IPO supply. Traders are concerned that a potential flood of new
equity supply, via the newly liberalized listing process, will
weaken demand for existing stock.
Markets in London and Australia remained closed Monday in
observance of Boxing Day.
In currencies, the dollar was a tad higher against the yen
during Monday's trading session in Asia, as the greenback failed to
maintain gains from midmorning buying amid a lack of fresh trading
cues.
"The dollar lacks clear direction," given many other overseas
markets still being closed, said a Japanese brokerage house
analyst. "But the dollar was not falling as was previously
feared."
At 0845 GMT the dollar was up 0.1% against the yen at 120.5 yen.
The euro was flat against the dollar at $1.097.
Gold was down 0.3% at $1,072 an ounce.
Write to Giada Zampano at giada.zampano@wsj.com
(END) Dow Jones Newswires
December 28, 2015 06:35 ET (11:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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