Global shares meander in thin pre-Christmas trading

  24 December 2015    Read: 1472
Global shares meander in thin pre-Christmas trading
Global markets meandered Thursday despite earlier gains in Asia and as the surge in oil prices faded in light Christmas Eve trading.
Germany`s markets were closed and many other major markets including the London Stock Exchange and the New York Stock Exchange have half-day sessions Thursday ahead of the Christmas holiday Friday.

KEEPING SCORE: In Europe, Britain`s FTSE 100 closed up 0.2 percent at 6,254.64 while France`s CAC40 fell 0.2 percent to 4,663.18. Wall Street looked set for a lackluster opening, with Dow futures up 0.1 percent and S&P futures flat.

THE QUOTE: "Falling volatility and trade volume mark the days prior to the Christmas holidays," said Bernard Aw of IG, noting a lack of inspiration as funds and traders wind down positions before the end of the year.

ASIA`S DAY: Japan`s Nikkei 225 stock index fell 0.5 percent to 18,789.69 after spending most of the day in positive territory. The Shanghai Composite Index lost 0.7 percent to 3,612.49 and South Korea`s Kospi fell 0.4 percent to 1,990.65. But Hong Kong`s Hang Seng index added 0.4 percent to 22,138.13 and Australia`s S&P/ASX 200 gained 1.3 percent to 5,207.60 in half-day Christmas Eve sessions. Apart from Tokyo and Shanghai, most major regional markets will be closed Friday for Christmas.

ENERGY: Oil prices continued their recovery from lows earlier in the week. U.S. crude futures gained 18 cents to $37.69 in electronic trading on the New York Mercantile Exchange. They jumped $1.36, or 3.8 percent, to $37.50 a barrel on Wednesday. Brent crude, which is used to price international oils, was up 6 cents at $37.42. It added $1.25, or 3.5 percent, to $37.36 a barrel in London. The modest oil recovery has helped to boost stocks by lifting the shares of energy companies.

CURRENCIES: The dollar edged lower to 120.43 yen from 120.92 in the previous session. The euro was slightly higher at $1.0945, up from $1.0914.

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