TOKYO — World stock markets were mixed on Monday as investors pondered how much farther indexes can go after repeatedly hitting record highs this year. Corporate news, including takeovers and earnings reports, was due to also be in focus.
KEEPING SCORE: France’s CAC 40 was 0.1 per cent higher at 5,531, while Germany’s DAX was down 0.1 per cent to 13,323. Britain’s FTSE 100 added 0.2 per cent to 7,680. U.S. markets appeared set to open slightly lower, with Dow futures down 0.2 per cent and S&P 500 futures 0.3 per cent lower.
ASIA’S DAY: Japan’s benchmark Nikkei 225 finished flat at 23,629.34 and Hong Kong’s Hang Seng index lost 0.6 per cent to 32,966.89. The Shanghai Composite index lost nearly 1.0 per cent to 3,523.00. South Korea’s Kospi gained 0.9 per cent to 2,598.19 and the S&P ASX/200 in Australia added 0.4 per cent to 6,075.40. Shares rose in Taiwan, Singapore and Thailand but fell in Indonesia.
ANALYST’S VIEWPOINT: The Wall Street rally last week helped give markets some momentum, but “a data packed week and stock reporting seasons around the globe should see market focus turn to the numbers. A weakening U.S. dollar may prove a brake on any investor exuberance,” Michael McCarthy of CMC Markets said in a commentary.
CURRENCIES: The dollar, which last week fell sharply after U.S. officials said they accepted a weaker value for the currency, fell to 108.84 yen from 109.26 late Friday in Asia. The euro fell to $1.2384 from $1.2443.
FIZZY STOCKS: Shares in Dr. Pepper Snapple soared more than 37 per cent before the opening bell Monday on the news that the company is being taken over by Keurig Green Mountain Inc. The deal will create a beverage giant with about $11 billion in annual sales. Dr. Pepper Snapple shareholders will receive $103.75 per share in a special cash dividend and keep 13 per cent of the combined company.
ENERGY: Benchmark U.S. crude fell 46 cents to $65.68 a barrel in electronic trading on the New York Mercantile Exchange. It rose 63 cents on Friday. Brent crude, used to price international oils, dropped 69 cents to $69.83 per barrel.
