World Shares Mixed on Tuesday 02/19 05:59
Shares were mixed in Europe on Tuesday following a choppy day in Asia as
Chinese and U.S. negotiators geared up for trade talks in Washington.
BANGKOK (AP) -- Shares were mixed in Europe on Tuesday following a choppy
day in Asia as Chinese and U.S. negotiators geared up for trade talks in
Germany's DAX was flat at 0.1 percent to 11,300.61 while the CAC 40 in
France slipped 0.3 percent to 5,152.88. Britain's FTSE 100 sank 0.5 percent to
With U.S. markets preparing to reopen after the President's Day holiday, the
future contract for the Dow Jones Industrial Average lost 0.2 percent to
25,838.00 and that for the S&P 500 also slipped 0.2 percent to 2,771.80.
Vice Premier Liu He, China's economy czar, was due to arrive in Washington
on Thursday, China's state media reported, after two days of preliminary talks
by lower-level officials.
A truce between the U.S. and China on increased American tariffs on Chinese
good expires March 2, leaving the U.S. free to more than double its import
taxes on $200 billion in Chinese goods.
President Donald Trump has said he may hold off on these if the country was
close to a deal with China.
Analysts said much is riding on the outcome of the trade talks after an
inconclusive end to an earlier round in Beijing last week.
"Without sounding like a damp squib, there is now a vast amount of optimism
baked into currency, stock and energy market prices globally and precisely zero
concrete detail," Jeffrey Halley, senior market analyst for OANDA, said in a
"The unwind, should no deal be struck, could be very ugly," he said.
The U.S. is wrangling over trade with many nations. On Monday, the European
Union warned that the bloc will hold back on a commitment to buy more American
soybeans and liquefied gas if European cars are hit with punitive tariffs.
ASIA'S DAY: The Shanghai Composite index edged 0.1 percent higher to
2,755.65, while Japan's Nikkei 225 edged 0.1 percent higher to 21,302.65.
Australia's S&P ASX 200 climbed 0.3 percent to 6,106.90 and the Hang Seng in
Hong Kong gave up 0.4 percent to 28,228.13. South Korea's Kospi lost 0.2
percent to 2,205.63. Shares were mostly higher in Southeast Asia.
CHINA AUTO SALES: China's auto sales fell for an eighth month in January,
extending a painful decline for the biggest global market as demand cooled amid
a slowing economy and tariffs standoff with the U.S. Purchases of sedans, SUVs
and minivans fell 15 percent from a year earlier to just over 2 million
vehicles, according to an industry group, the China Association of Automobile
ENERGY: U.S. crude added 34 cents to $56.32 per barrel in electronic trading
on the New York Mercantile Exchange. It gained $1.19 on Monday. Brent crude,
used to price international oils, lost 15 cents to $66.35 per barrel.
CURRENCIES: The dollar strengthened to 110.77 yen from 110.60 yen on Monday.
The euro slipped to $1.1307 from $1.1309.