European stock markets struggled on Monday and Wall Street was expected to dip on the open amid ongoing concerns about earnings and the economic impact of sanctions on Russia. Asian indexes closed higher, however, after China reported strong corporate profits.
KEEPING SCORE: In morning European trade, France’s CAC 40 rose 0.2 percent to 4,337.81 while Germany’s DAX shed 0.2 percent to 9,620.98. Britain’s FTSE 100 was flat at 6,792.45. Futures augured a muted session on Wall Street. Dow and S&P 500 futures were both down 0.1 percent. On Friday, the Dow lost 0.7 percent while the S&P was off 0.5 percent.
ASIA’S DAY: China’s benchmark Shanghai Composite Index surged 2.4 percent to 2,177.95. Tokyo’s Nikkei 225 added 0.5 percent to 15,529.40 and Hong Kong’s Hang Seng gained 0.9 percent at 24,428.63. Investors were mainly buoyed by news that profits at China’s industrial enterprises soared 17.9 percent in June over a year earlier. The figure boosted confidence that the world’s No. 2 economy has stabilized after a slowdown.
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Associated Press via CHINA US Focus http://ift.tt/1rXQOJR
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