World shares mixed after S&P 500 hits record high

Published: July 04, 2019 15:03:26 | Updated: July 06, 2019 11:51:12

File Photo (Collected)

World shares were mixed on Wednesday, while European shares rose sharply as investors warmed to the announcement that Christine Lagarde will take the helm at the European Central Bank.

Wall Street, meanwhile, looked set to open higher on a holiday-shortened trading day, following another record high for the S&P 500.

Germany’s DAX added 0.6 per cent to 12,607 while the CAC 40 in Paris also climbed 0.6 per cent, to 5,611, reports AP.

Elsewhere in Europe, Britain’s FTSE 100 picked up 0.7 per cent to 7,616.

US shares looked set for gains on a shortened trading day ahead of the Independence Day holiday, with the future contract for the S&P 500 up 0.2 per cent at 2,985.

The future for the Dow Jones Industrial Average also edged 0.2 per cent higher, to 26,842.

Markets were less upbeat in Asia as the euphoria from President Donald Trump’s truce with China’s Xi Jinping on trade faded.

The Shanghai Composite index sank 0.9 per cent to 3,015.20 while Japan’s Nikkei 225 index lost 0.5 per cent to 21,638.16. The Hang Seng in Hong Kong declined 0.1 per cent to 28,855.14.

South Korea’s Kospi lost 1.2 per cent to 2,096.02. Australia’s S&P ASX 200 advanced 0.5 per cent to 6,685.50 and the Sensex in India edged 0.2 per cent higher to 39,910.53.

Shares fell in Taiwan and most Southeast Asian markets.

In commodities trading, benchmark crude oil gained 46 cents to $56.71 per barrel in electronic trading on the New York Mercantile Exchange. It fell $2.84 to settle at $56.25 a barrel overnight.

Brent crude, the international standard, picked up 76 cents to $63.16 per barrel. It lost $2.66 to close at $62.40 a barrel on Tuesday.

The dollar fell to 107.72 Japanese yen from 107.90 yen on Tuesday. The euro edged up to $1.1291 from $1.1286.

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