World Market Overview
European shares ended slightly lower Monday after struggling for direction amid lingering worries about growth and with U.S. markets closed for a holiday, although oil giant BP managed to gain ground.
The Stoxx Europe 600 index fell 0.2% to close at 236.88, after dipping in and out of positive territory though the session in a similar performance to Friday's session.
The index lost 4.5% last week after data fueled worries about global economic growth.
Miners fell Monday, with Rio Tinto shares down 1.8% and Antofagasta shares off 2.1%. Of the benchmark regional indexes, the German DAX index fell 0.3% to close at 5,816.20.
The U.K. FTSE 100 index ended 0.3% lower at 4,823.53, while the French CAC-40 index declined 0.5% to finish at 3,332.46.
Exporters gained ground in Europe, including aircraft maker EADS, which rose 2.4%, while automaker BMW rose 0.6%.
Meanwhile, oil giant BP was a standout, rising 3.5%. The Sunday Times newspaper reported, without citing sources, that the firm has launched a search for a strategic investor to help secure its independence.
Asian markets ended mixed Monday, with Chinese stocks dragged lower by worries of economic slowdown, while Japanese consumer finance firms were buoyed by hopes for relaxed lending laws.
Friday's losses on Wall Street and slightly weaker than expected U.S. jobs data damped sentiment, while trading volumes were weak in several markets as investors stayed on the sidelines ahead of the Independence Day holiday in the U.S. Monday.
Japan's Nikkei Stock Average rose 0.7% and South Korea's Kospi inched 0.2% higher. China's Shanghai Composite Index declined 0.8%, ending at its lowest level since April 8, 2009, while Hong Kong's Hang Seng Index slipped 0.3%.
Chinese shares continued to be weighed by economic growth concerns. Aluminum Corp. of China dropped 1.9% in Shanghai, while Yunnan Copper declined 2.0% in Shenzhen.
Base metals on the London Metal Exchange ended mostly higher Monday in a quiet session due to the U.S. holiday.
The metals managed to retain some of the gains made in Asia at the start of the day, holding well against the bearish influences of softer European equities and a weaker euro. Copper closed 0.9% higher at $6,469 a metric ton.
It rose to a six day high of $6,568/ton in Asia in intraday trading.
Nickel gave back early gains and dropped 0.7% on news that a nearly one year strike at some of Vale's nickel operations in Ontario, Canada may be coming to an end. Management and union negotiators at United Steelworkers Local 6500 and 6200 struck a tentative five year labor agreement over the weekend. Union members will vote to ratify the agreement Wednesday and Thursday.
Provided by Morrison Securities