GLOBAL MARKETS 11/07 MONDAY
Asia markets closed higher, bolstered by election results in Japan and Australia and shrugging off concerns a strong U.S. jobs report might push the Federal Reserve closer to hiking rates. Japan's Nikkei 225 closed up 601.84 points, or 3.98 percent, at 15,708.82. Hong Kong's shares joined the regional rally, the Hang Seng Index up 316.33 or 1.54%at 20880.50The Shanghai Composite added 7.94 points, or 0.27 percent, to 2,996.04. In South Korea, the Kospiadded 25.44 points, or 1.3 percent, to 1,988.54. Australia's ASX 200 closed up 106.56 points, or 2.04 percent, at 5,337.10
A rally in the shares of steelmakers and financials helped European stocks to rise for the third straight session on Monday.The Stoxx Europe 600 picked up 1.64% to 329.02. The U.K’s FTSE 100 rose 1.40% to 6,621.53. Germany’s DAX 30 index up by 2.12% to 9,736.43.France’s CAC 40 rose 1.76% to 4,223.97. Spain’s IBEX 35 tacked on 1.46% at 8,225.70 . Italy’s FTSE MIB up1.21% to 16,040.45.
Strong market performance in the US followed gains in markets across Europe and Asia. The S&P index closed up 7.26 points, or 0.3%, to 2,137.16 topping its previous record of 2,132.80 set on 21 May 2015. The Dow Jones added 80 points, or 0.4%, to 18,226 points and close to its record high of 18,312.39. The Nasdaq briefly broke through the 5,000-mark for the first time in 2016, before ending the day up 0.6% to 4,989 points.
Oil prices fell, hitting two-month lows, pressured by rising Canadian supplies, a higher U.S. oil rig count, and cuts in bullish hedge fund bets on crude. Brent Crude traded at $46.21 per barrel by 2:41 p.m. ET, down 4 cents after sliding to a session low of $45.90, the lowest since May 11. U S West Texas Intermediate (WTI) Crude settled down 1.43 percent, or 65 cents, at $44.76 per barrel, the lowest settle since May 10.