SEOUL, South Korea (AP) — European stocks moved lower Friday while Asian stock markets rose in subdued trading after U.S. markets closed for the Thanksgiving holiday.
KEEPING SCORE: European stock markets were lower in early trading. Britain’s FTSE 200 slipped 0.1 percent to 6,824.13 and France’s CAC 40 fell 0.4 percent to 4,526.71. Germany’s DAX retreated 0.3 percent to 10,656.42. Futures showed that Wall Street was set for a tepid start after the holiday. Dow futures rose 0.2 percent while S&P futures gained 0.1 percent.
ASIA’S DAY: Asian markets finished higher in light trading. Japan’s Nikkei 225 finished 0.3 percent higher at 18,381.22. South Korea’s Kospi edged up 0.2 percent to 1,974.46. Hong Kong’s Hang Seng index rose 0.5 percent to 22,723.45, while the Shanghai Composite Index closed 0.6 percent higher at 3,261.94. Australia’s S&P/ASX 200 gained 0.4 percent to 5,507.80. Stocks in Taiwan, Singapore and other Southeast Asian markets also advanced.
ANALYST’S TAKE: “With U.S. markets closed for Thanksgiving last night and a number of key stocks sitting at resistance levels, the question for traders today will be whether buyers are prepared to act independently of a lead from U.S. markets,” Ric Spooner, chief market analyst at CMC Markets, said in a commentary.
OIL: Analysts said oil prices will be reacting to whether OPEC members reach an agreement on meaningful output cuts during their meeting next week. Benchmark U.S. crude fell 39 cents to $47.57 per barrel in electronic trading on the New York Mercantile Exchange. The contract closed 7 cents lower at $47.96 on Thursday. Brent crude, used to price international oils, shed 42 cents to $48.58 in London.
CURRENCIES: The dollar remained at a more than eight-year high against the Chinese yuan, which was trading at 6.9145 yuan per dollar. The dollar fell against the Japanese yen, to 112.95 yen from 113.69 yen, while the euro strengthened to $1.0607 from $1.0547.