US retailers due to report quarterly results
US stock markets were closed for the Presidents Day holiday on Monday. Trading will resume today after all three major stock indexes closed at record highs on Friday. The dollar weakened on Monday: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, closed 0.04% lower at 100.892. The Dow closed up 0.2% to 20624.05 on Firday, while the S&P 500 index rose 0.2% settling at 2351.16. The Nasdaq index closed at record high of 5838.58, gaining 0.4%.
RBS (LON:RBS) and Rolls-Royce (LON:RR) shares lead European equities higher
European stocks closed marginally higher amid progress in euro-zone finance ministers Greece’s bailout meeting on Monday. Both the euro and British Pound edged higher against the dollar in thin trading as US markets were closed for President’s Day holiday. The Stoxx Europe 600 added 0.2%. Germany’s DAX 30 rose 0.6% to 11827.62. France’s CAC 40 underperformed closing down less than 0.1% and UK’s FTSE 100 was little changed at 7299.86.
Asian markets rise
Asian stocks are mostly up today ahead of the open of European and US markets. Nikkei ended 0.7% higher at 19381.44 as yen extended losses against the dollar. Gains were led by paper sector on news Nippon Paper Industries Co., Ltd. (T:3863) will raise the prices of printing paper for the first time since February 2015. Chinese stocks are rising on report pension funds will begin stock purchases: the Shanghai Composite Index is 0.4% higher while Hong Kong’s Hang Seng Index is 0.6% lower. Australia’s ASX All Ordinaries is down 0.07% with the Australian dollar edging lower against the dollar.
Oil prices advance continues
Oil futures prices are edging higher today as speculators raised their net long bets on oil, according to data from the Intercontinental Exchange released on Monday. Prices closed higher on Monday, with April Brent crude closing up 0.7% at $56.18 a barrel on London’s ICE Futures exchange. Oil pricing agency S&P Global Platts is making the first major overhaul of its Brent oil price assessment in a decade. Platts said on Monday it would add Norway's Troll grade to the basket of four British and Norwegian crude grades which it already uses to assess dated Brent from Jan 1. 2018.