World shares mostly gain after Wall Street wobbled over strong jobs report
BNN Bloomberg
World shares were mostly higher Thursday and benchmarks in Japan and South Korea reached new records after Wall Street wobbled following a better-than-expected U.S. job report.
U.S. futures edged higher. The future for the S&P 500 rose 0.3 per cent, while that for the Dow Jones Industrial Average was up 0.4 per cent.
In Europe, Britain’s FTSE gained 0.3 per cent to 10,502.20 in early trading. Germany’s DAX was up 1.3 per cent to 25,169.49, while the CAC 40 in Paris gained 1 per cent to 8,398.82.
Tokyo’s Nikkei 225 surpassed the 58,000 mark early in the session as trading resumed after a holiday. However, it gave up those gains, edging just 10 points lower to 57,639.84.
Japanese shares have rallied following Prime Minister Sanae Takaichi’s landslide victory in a parliamentary election on Sunday, as investors expect more policies to help spur economic growth.
South Korea’s Kospi breached the 5,500 mark for the first time, driven by gains for technology-related stocks. It was up 3.1 per cent at 5,522.27.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.
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Wall Street is stumbling toward the finish line of a fourth straight losing week on Friday, but an ease in oil prices is taking some of the pressure off stock markets worldwide.