Global stocks mixed after Wall Street decline, dollar gains
BEIJING — European shares were little changed in early trading Tuesday while Asian stocks mostly fell. Oil prices fluctuated after declines that dragged Wall Street lower.
KEEPING SCORE: In early trading, Germany’s DAX index rose 0.1 per cent to 11,522.87 points and France’s CAC-40 was little changed at 4,776.90. London’s FTSE 100 gained 0.2 per cent to 7,190.44. On Monday, the DAX and CAC-40 both declined 0.9 per cent while the FTSE 100 lost 0.2 per cent. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor’s 500 index were little changed.
ANALYST’S TAKE: “The exuberance demonstrated in the wake of Trump ordering a review of regulation faded in a lacklustre session,” Alex Furber of CMC Markets said in a report. “Markets are still waiting to hear more from the Trump administration on tax cuts, deregulation and infrastructure,” Furber said. “Rising political uncertainty in Europe is also influencing sentiment.”
GERMAN DATA: German industrial production reported Tuesday unexpectedly dropped 3 per cent in December compared with the previous month, apparently pushed lower by seasonal factors. Economists had forecast a 0.3 per cent increase. But the outlook appears brighter after data released Monday showed factory orders climbing 5.2 per cent in December thanks to demand at home and from elsewhere in the eurozone — a far better performance than anticipated.