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Global shares lower in muted trading ahead of Thanksgiving

Global shares lower in muted trading ahead of Thanksgiving Photo: AP

By YURI KAGEYAMA
November 20, 2017 07:52 AM

TOKYO (AP) — Global shares were mostly lower in muted trading Monday ahead of the Thanksgiving holidays in the U.S., as gloom carried over from Friday's retreat on Wall Street.

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KEEPING SCORE: France's CAC 40 fell 0.1 percent in early trading to 5,312.37, while Germany's DAX lost 0.3 percent to 12,959.45. Britain's FTSE 100 lost nearly 0.4 percent to 7,352.88. U.S. shares were also set to drift lower, with Dow futures down nearly 0.2 percent at 23,281. S&P 500 futures were also down nearly 0.2 percent at 2,571.80.

THE QUOTE: "Thanksgiving week in the U.S. and a rather light data calendar could set the stage for a fairly quiet week. But best not to confuse quiet for calm," says Vishnu Varathan of Mizuho Bank in Singapore.

GERMAN ANGST: Germany faced an uncertain political future on Monday after weeks of talks on forming a new government collapsed amid dissension over climate change and migration policies. Chancellor Angela Merkel, who has led the country since 2005, was set to consult the country's president, raising the possibility of new elections.

JAPAN TRADE: Japan's trade surplus fell more than 40 percent in October from a year earlier, despite strong growth in exports to China, the U.S. and the EU, as costs for imports of oil, gas and coal surged. Customs figures released Monday showed imports rose almost 19 percent from the same month a year earlier in October to 6.41 trillion yen ($57 billion) while exports were up 14 percent at 6.7 trillion yen ($59 billion). The resulting surplus of 285.4 billion yen ($2.54 billion) compared with a 481.2 billion yen surplus a year earlier.

ASIA'S DAY: Japan's benchmark Nikkei 225 index lost 0.6 percent to finish at 22,261.76 and Australia's S&P/ASX 200 fell 0.2 percent to 5,945.70. South Korea's Kospi shed 0.3 percent to 2,527.67. Hong Kong's Hang Seng added 0.2 percent at 29,260.31, while the Shanghai Composite index gained 0.3 percent to 3,392.40. India's Sensex slipped 0.1 percent to 33,315.45 and markets in Southeast Asia were mixed.

ENERGY: Benchmark U.S. crude added 8 cents to $56.79 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.36 a barrel on Friday, to $55.71 a barrel. Brent crude, used to price international oils, lost 22 cents to $62.52 a barrel in London.

CURRENCIES: The dollar fell to 112.02 yen from 112.09 yen. The euro slipped to $1.1762 from $1.1791.

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AP Business Writer Yuri Kageyama can be reached at https://twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

Credits

By YURI KAGEYAMA

Copyright 2017 The Associated Press. All rights reserved.

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