Move FM Australian News

Global markets are mixed Monday following bad economic news from Japan.

After a strong start to the trading day, European markets are stumbling a bit at the midday mark, with Britain’s FTSE index and Germany’s DAX index both 0.1% higher, while the CAC-40 index in France has lost two points, but is virtually flat.

Hours earlier in Asia, Japan’s Nikkei index dropped 0.8% after a report the country’s economy shrank 7.8% between April and June, the worst second-quarter numbers ever posted by the world’s third-largest economy.

Elsewhere in Asia, Australia’s S&P/ASX index also finished 0.8% lower. Hong Kong’s Hang Seng index is up 0.6%, and Shanghai’s Composite index ended 2.3% higher. The KOSPI index in South Korea was down 1.2%, while Taiwan’s TSEC closed up 1.2%.

In late afternoon trading, Mumbai’s Sensex is up 0.4%.

In commodities trading, gold is trading at $1,961.60 an ounce, up 0.6%. U.S. crude oil is selling at $41.95 per barrel, down 0.1%, and Brent crude is up $44.67 per barrel, down 0.2%.

All three major U.S. indices are trending upward in futures trading just hours before Wall Street’s opening bell.