European stocks gained and U.S. index futures edged higher, with the benchmarks set to recoup losses from last week as worries about the global slowdown appeared to ebb. Emerging-markets stocks advanced, while the dollar and Treasuries steadied.
Advances in oil and gas companies largely offset a drop in banks on the Stoxx Europe 600, as futures on the S&P 500, Dow and Nasdaq all nudged up. Equities climbed from Tokyo to Beijing, where China’s government said it would cut value-added taxes, reinforcing expectations for an eventual pick-up in China’s economy and helping push the Australian and New Zealand currencies higher. The pound slipped at the end of a week made volatile by critical votes on Brexit in Parliament. Prime Minister Theresa May won the endorsement of British politicians to seek to delay Brexit day.
Sings of resurfacing geopolitical risks did little to bring a negative mood to global stocks. North Korean leader Kim Jong Un was said to review plans to suspend denuclearization talks with the U.S. after his February summit with Donald Trump broke down. In New Zealand, the country suffered one of its worst mass shootings after attacks at two mosques caused multiple fatalities.
On Wall Street Thursday, the S&P 500 spent most of the session fluctuating between gains and losses in thin trading before edging lower at the close. News that Presidents Donald Trump and Xi Jinping won’t be meeting to end the trade war at least until next month had weighed on sentiment.
Elsewhere, the yen held steady as the Bank of Japan left its policy settings on hold while downgrading its economic assessment to reflect a weakening in exports. West Texas crude steadied advanced near $59 a barrel before a weekend meeting where the world’s top exporters will discuss whether to extend supply cuts.
And these are the main moves in markets:
The Stoxx Europe 600 Index rose less than 0.05 percentas of 8:12 a.m. London time. Futures on the S&P 500 Index climbed 0.2 percent. The U.K.’s FTSE 100 Index rose 0.4 percent and the largest advance in more than a week. The MSCI Asia Pacific Index jumped 0.7 percent, the highest in more than a week. The MSCI Emerging Market Index gained 0.6 percent, the highest in more than a week.
The Bloomberg Dollar Spot Index decreased 0.1 percent. The euro gained 0.2 percent to $1.1327, the strongest in more than a week. The British pound dipped 0.1 percent to $1.3226. The Japanese yen rose less than 0.05 percent to 111.68 per dollar. New Zealand’s dollar jumped 0.4 percent to $0.6852.
The yield on 10-year Treasuries dipped one basis point to 2.62 percent. Britain’s 10-year yield fell one basis point to 1.213 percent.
Brent crude climbed 0.5 percent to $67.58 a barrel, the highest in more than four months. Iron ore fell 0.2 percent to $84.65 per metric ton. Gold increased 0.6 percent to $1,303.47 an ounce.