Overseas Trading: Stocks Notch Gains as Commodity Woes Continue

Traders in Asia and Europe are largely shrugging off mixed action in energy stocks and heavy losses for miners

Dec 29, 2015 at 8:24 AM
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Asian stocks finished a volatile, low-volume session in positive territory. Oil stocks were mixed following steep losses for February crude futures overnight, but banks and brokerages rallied. Meanwhile, in Tokyo, Toshiba shares bounced back from last week's drubbing on news the electronics giant will seek $2.5 billion for restructuring. By the close, China's Shanghai Composite climbed 0.9%, Japan's Nikkei rose 0.6%, Hong Kong's Hang Seng tacked on 0.4%, and South Korea's Kospi advanced 0.1%.

European markets are on the rise at midday, despite heavy losses for mining stocks and a mixed performance in the energy sector. The gains are modest in London following the long holiday weekend, as severe flooding props up homebuilder stocks but weighs on insurers. At last check, the German DAX has jumped 1.5%, the French CAC 40 is up 1.4%, and London's FTSE 100 has risen 0.4%.

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