Global stocks higher after US, Chinese presidents meet
Global stocks gained Tuesday after Wall Street gave back some of last week's huge gains, the American and Chinese presidents met and China's consumer spending shrank in a sign its economy is weakening.
Frankfurt, Shanghai, Tokyo and Hong Kong advanced, London was little changed while oil prices declined.
Wall Street futures were higher, suggesting the prices might rebound from Monday's 0.9% loss for the benchmark S&P 500 index.
hat market gave up part of last week's 5.9% surge after lower U.S. inflation encouraged hopes the Federal Reserve might ease off planned rate hikes.
“Equity markets are looking slightly positive,” said Craig Erlam of Oanda in a report
In early trading, the FTSE in London shed less than 0.1% to 7,380.66. Frankfurt's DAX gained less than 0.1% to 14,326.36 and the CAC 40 in Paris added 0.3% to 6,628.70.
On Wall Street, the S&P 500 future was up 0.7% and that for the Dow Jones Industrial Average gained 0.5%
In Asia, the Shanghai Composite Index rose 1.6% to 3,134.07 after Chinese consumer spending contracted by 0.5% in October compared with a year ago under pressure from anti-virus controls
The Hang Seng in Hong Kong advanced 4.1% to 18,343.12 and the Nikkei 225 in Tokyo gained 0.1% to 27,990.17.
Seoul's Kospi was up 0.2% at 2,480.33 while Sydney's S&P-ASX 200 shed less than 0.1% to 7,141.60.