A man walks by an electronic stock board of a securities firm in Tokyo, Tuesday, April 9, 2019. Asian markets have followed Wall Street higher as investors watched for Brexit developments and corporate earnings. Benchmarks in Shanghai, Hong Kong and Seoul gained, while Tokyo was flat. (AP Photo/Koji Sasahara)
BEIJING – Global markets were mixed Tuesday following Wall Street’s gain as investors watched for Brexit developments and corporate earnings.
Benchmarks in Frankfurt, Paris and Tokyo gained while London and Shanghai edged down. Sydney was unchanged.
Investors looked ahead to developments in Britain’s contentious move toward leaving the European Union, a mid-week meeting by the European Central Bank and the release of minutes from the latest U.S. Federal Reserve meeting.
In early trading, Germany’s DAX advanced 0.1% to 11,977.61 and France’s CAC 40 gained 0.2% to 5,481.20. London’s FTSE shed 0.1% to 7,442.29.
In Asia, the Shanghai Composite Index dropped 0.2 percent to 3,239.56 and Tokyo’s Nikkei 225 rose 0.2% to 21,802.59.
Hong Kong’s Hang Seng added 0.3% to 30,157.49 and Seoul’s Kospi was 0.1% higher at 2,213.56.
India’s Sensex advanced 0.3% to 38,824.80 while Sydney’s S&P-ASX 200 was unchanged at 6,221.80. Benchmarks in Taiwan and Southeast Asia also gained, while New Zealand declined.
British Prime Minister Theresa May planned to meet European leaders ahead of a Friday deadline for Britain to leave the European Union.
British legislators have yet to approve a separation agreement. Economists worry about the drag on the economy if the departure happens without that.
On Wall Street, futures for the Standard & Poor’s 500 index and the Dow Jones Industrial Average were up just under 0.1 percent.
On Monday, the S&P eked out a 0.1% gain to extend its winning to streak to eight days. The Dow ended lower due to another big loss for Boeing Co. The Nasdaq gained 0.2% to 7,953.88.
Boeing slumped 4.4% after saying Friday that it will cut production of its 737 Max plane. Regulators around the world grounded that model after it was involved in two fatal crashes.
EARNINGS SEASON: The latest quarterly earnings season is due to start with JPMorgan Chase and other big banks. Analysts are forecasting the first drop in S&P 500 profits in years. They expect corporate profit growth to resume after the weak first quarter.
CHINA-US TRADE: China’s official news agency said last week’s talks in Washington “achieved new progress” but did not say when further discussions will happen. Beijing and Washington are trying to end a tariff war over Beijing’s technology ambitions. It has shaken financial markets and darkened the world economic outlook.
TRUMP TARIFFS: The U.S. government released an $11 billion list of European goods for possible tariffs in retaliation for what Washington says are improper subsidies to Airbus. The U.S. Trade Representative said it was preparing for a possible World Trade Organization ruling on Washington’s challenge to the subsidies to the chief rival of Boeing Co. It said the amount was equal to the harm Washington believes U.S. vendors suffer due to the subsidies.
ENERGY: Benchmark U.S. crude gained 26 cents to $64.66 per barrel in electronic trading on the New York Mercantile Exchange. The contract surged $1.32 on Monday to $64.40. Brent crude, used to price international oils, added 17 cents to $71.27 per barrel in London. It rose 76 cents the previous session to $71.10.
CURRENCY: The dollar declined to 111.27 yen from Monday’s 111.47 yen. The euro gained to $1.1270 from $1.1264. /gsg