Global stocks rise after Wall St ends in 2021 with big gain
Global stock markets and US futures were mostly higher on Monday the first trading day of 2022 after Wall Street ended last year with a double-digit gain.
Frankfurt and Paris opened higher while Seoul and India advanced. Hong Kong retreated. The UK, Chinese, Japanese and Australian markets were closed.
Wall Street’s benchmark S&P 500 slipped on Friday amid lingering concerns about the omicron variant of the coronavirus, but ended 2021 with an annual gain of 26.9%.
“It remains to be seen to what extent the optimism of the new year will be reflected in the financial markets,” Venkateswaran Levanya of Mizuho Bank said in a report.
At the start of the session, the Frankfurt DAX gained 0.8% to 16,010.77 and the CAC 40 in Paris gained 0.9% to 7,213.57.
On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average were up 0.4%. On Friday, the S&P 500 slipped 0.3% and the Dow Jones 0.2%. The Nasdaq fell 0.6%.
In Asian trade, the Hong Kong Hang Seng lost 0.5% to 23,274.75 and South Korea’s Kospi rose 0.4% to 2,988.77.
One of China’s largest real estate developers, Evergrande Group, which is struggling to avoid default on $ 310 billion in debt, said on Monday it had requested a suspension of trading of its Hong Kong shares ahead of the announcement of ‘unspecified inside information. “
The Indian Sensex gained 1.4% to 59,101.23. Singapore, Jakarta and Malaysia have advanced. The markets in New Zealand and Thailand were closed.
Also on Monday, Singapore’s government announced that its economy grew 7.2% last year, rebounding from the 5.4% contraction the year before.
In energy markets, benchmark US crude rose 86 cents to $ 86.07 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell from $ 1.78 on Friday to $ 75.21. Brent crude, the basis of international oil prices, gained 87 cents to $ 78.65 a barrel in London. It lost $ 1.75 the previous session to $ 77.78 a barrel.
The dollar rose to 115.29 yen from 115.09 yen on Friday. The euro fell to $ 1.1340 from 1.1383.