BEIJING — European shares were little changed in early trading Tuesday while Asian stocks mostly fell. Oil prices fluctuated after declines that dragged Wall Street lower.
KEEPING SCORE: In early trading, Germany’s DAX index rose 0.1 percent to 11,522.87 points and France’s CAC-40 was little changed at 4,776.90. London’s FTSE 100 gained 0.2 percent to 7,190.44. On Monday, the DAX and CAC-40 both declined 0.9 percent while the FTSE 100 lost 0.2 percent. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor’s 500 index were little changed.
ANALYST’S TAKE: “The exuberance demonstrated in the wake of Trump ordering a review of regulation faded in a lackluster session,” Alex Furber of CMC Markets said in a report. “Markets are still waiting to hear more from the Trump administration on tax cuts, deregulation and infrastructure,” Furber said. “Rising political uncertainty in Europe is also influencing sentiment.”
GERMAN DATA: German industrial production reported Tuesday unexpectedly dropped 3 percent in December compared with the previous month, apparently pushed lower by seasonal factors. Economists had forecast a 0.3 percent increase. But the outlook appears brighter after data released Monday showed factory orders climbing 5.2 percent in December thanks to demand at home and from elsewhere in the eurozone – a far better performance than anticipated.
ASIA’S DAY: Tokyo’s Nikkei 225 index lost 0.4 percent to 18,910.78 and the Shanghai Composite Index lost 0.1 percent to 3,153.09. Sydney’s S&P-ASX 200 rose 0.1 percent to 5,621.90 and Seoul’s Kospi retreated 0.1 percent to 2,075.21. India’s Sensex shed 0.6 percent to 28,365.33 and benchmarks in Bangkok, Manila and Jakarta also declined. Taiwan, Singapore and Malaysia gained.
ENERGY: Benchmark U.S. crude shed 5 cents to $52.96 per barrel in electronic trading on the New York Mercantile Exchange after being up as much as 17 cents during the day. The contract slumped 82 cents on Monday to close at $53.01. Brent crude, used to price international oils, was off 2 cents at $55.70 in London after rising as much as 19 cents. It plunged $1.09 in the previous session to $55.72.
FRENCH ELECTIONS: Francois Fillon refused to drop out of the presidential race despite a scandal over possible no-show jobs for his relatives that knocked him out as favorite in the April-May voting. A former premier in 2007-12, Fillon has rejected the suggestion political jobs he gave to his wife, son and daughter might not have been genuine. Officials of the far-right National Front, including leader Marine Le Pen, also are under investigation for their use of aides in the European parliament.
CURRENCY: The dollar gained to 112.24 yen from Monday’s 111.74 yen. The euro declined to $1.0659 from $1.0738.
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