Global markets mostly advance as dealers return from holiday

London

Most European and Asian markets advanced Tuesday as investors returned from a long holiday weekend, with eyes now on a Federal Reserve meeting and the release of US jobs data later in the week.
Another record close Monday on Wall Street’s Nasdaq index provided some early buying impetus, while there was relief that lawmakers in Washington had finally hammered out a deal to avoid a costly shutdown of the US government.
In late morning European deals, London gained 0.5 percent, Paris added 0.4 percent and Frankfurt won 0.2 percent in value.
In Asia, Tokyo fizzed 0.7 percent higher, with a weaker yen boosting exporters. The greenback is pushing back above 112 yen, having fallen last month on worries about Donald Trump’s ability to push through his pro-growth agenda.
Hong Kong rose 0.3 percent and Seoul added 0.7 percent by the close.
Meanwhile, Shanghai slipped 0.4 percent after official data at the weekend showed the pace of growth in China’s factory activity slowed last month. A separate private reading on Tuesday revealed activity at its slowest pace in seven months.
There was some disappointment in figures last week showing that growth in the US, British and French economies all came in below expectations, dealers said.
Traders were however given a positive lead from Wall Street, where the Nasdaq ended at another record high, while Trump looked to ease tensions with North Korea by saying he would be “honoured” to meet the country’s leader Kim Jong-Un under the right circumstances.—AFP

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