Overseas Trading: Global Stocks Follow Wall Street's Bullish Lead

Energy stocks gained in Asia, while European markets are shrugging off negative news to move higher

Dec 16, 2015 at 8:25 AM

Stocks in Asia settled higher today, tracking Wall Street's bullish Tuesday performance. Most energy stocks gained some ground, despite U.S. lawmakers moving forward with a plan that would repeal a 40-year-old ban on oil exports, if approved. By the close, Japan's Nikkei gained 2.6%, Hong Kong's Hang Seng advanced 2%, South Korea's Kospi added 1.9%, and China's Shanghai Composite edged up 0.2%.

European markets are also on positive ground, as investors seem comfortable with the idea that the U.S. Fed is set to raise interest rates for the first time in over nine years. Stocks are showing resilience at midday, with mining names shrugging off negative analyst attention, and luxury retailers moving higher despite a bleak earnings report from Prada. At last check, London's FTSE 100 is up nearly 1%, the German DAX has jumped 0.9%, and France's CAC 40 is 0.8% higher.

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