The Australian stock market climbed on Monday with energy stocks and gold miners leading the surge. The benchmark S&P/ASX 200 advanced 0.59% to 7,151.30. Investors digested the Australia’s buildings approvals print that came in significantly lower than expected. New Zealand’s benchmark S&P/NZX-50 index edged up 0.18% to 11,646.45 in light trading.
Asian stocks rallied on Monday as Hong Kong and mainland China resumed quarantine-free travel over the weekend. China’s Shanghai Composite index rose 0.58% to 3,176.08. Hong Kong’s Hang Seng index jumped 1.89% to 21,388.34 Japan’s markets were closed to observe Coming of Age Day, a public holiday. In Seoul, the Kospi average climbed 2.63% to 2,350.19.
Major European stock markets opened higher on Monday, with market sentiment buoyed by a further reopening of the Chinese economy, as China opened its borders on Saturday for the first time in three years. Germany’s DAX increased by 0.28% at the opening bell, London’s FTSE 100 grew by 0.87% while in Paris the CAC 40 stood flat. The Euro Stoxx 50 rose by 0.29%.
European stock markets closed higher There was some cheer on the economic front, with German industrial production recovering at a faster than expected pace in November. The DAX closed up 0.43%, the CAC 40 added 0.94%, while the FTSE 100 rose 0.33%. The Euro Stoxx 50 grew 1.47%.
Stocks the United States traded higher in the premarket on Monday morning. The Dow Jones Industrial Average added 0.09% at 4:03 am ET. At the same time, the Nasdaq 100 grew by 0.22%. The S&P 500 increased by 0.13%.
U.S. stocks ended on a mixed note on Monday as the mood turned cautious past mid afternoon after some Fed officials said the central bank will have to keep raising rates. The Dow Jones Industrial Average fell 0.33%, the Nasdaq 100 rose by 0.62% while the S&P 500 lost 0.08%.
Oil prices edged up on Monday as the Chinese authorities officially reopened borders to international passengers. The action seemingly prompted a positive sentiment on the demand side, reviving hopes that the economic activity in China, the world’s biggest oil importer, would pick up once again. Brent crude futures had risen 53 cents, or 0.7%, to $79.10 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6%, according to Reuters.
Gold prices advanced to an eight-month high on Monday. Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20, according to Reuters.
The U.S. dollar lost ground against its major counterparts in the European session on Monday. The greenback fell to a 5-day low of 131.31 against the Japanese yen and a 10-month low of 0.9188 against the Swiss franc. It dropped to near a 4-week low of 1.0732 against the euro and near a 3-week low of 1.2188 against the English pound.
To get in touch with our editorial team, send a press release,
email us at: editorial [at] worldmarketsdaily.com
To advertise on our platforms, you can use this form,
email us at: advertise [at] worldmarketsdaily.com
or call us at: +40 314 228 321 (Monday-Friday 10:30 – 16:30)
Visit our other websites: