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Wednesday August 24th, 2016 12:59AM

Global stocks rise after upbeat US economic data

By The Associated Press
BEIJING (AP) -- Global stocks mostly rose Wednesday on upbeat data that reinforced confidence in the U.S. economic recovery.<br /> <br /> Oil edged up to stay above $104 a barrel as traders weighed the impact of conflicts in Ukraine and Libya.<br /> <br /> In early European trading, France's CAC 40 was little changed at 4,529.57 and Germany's DAX added 0.1 percent to 9,946.07. Britain's FTSE 100 gained 0.1 percent to 6,848.86.<br /> <br /> Futures augured more gains on Wall Street with Dow and S&P 500 futures both up 0.1 percent.<br /> <br /> Investors were encouraged by a government report that orders to U.S. factories for long-lasting manufactured goods rose unexpectedly in April, powered by a surge in demand for military aircraft.<br /> <br /> Also, the Conference Board's consumer confidence index rose in May to the second-highest level since January 2008, just after the start of the Great Recession.<br /> <br /> "The ongoing economic recovery is confirmed. Consumer confidence matched expectations," said Mizuho Bank in a report.<br /> <br /> In Asia, China's benchmark Shanghai Composite Index rose 0.8 percent to 2,050.23 and Japan's Nikkei 225 added 0.2 percent to 14,670.95.<br /> <br /> Hong Kong's Hang Seng advanced 0.6 percent to 23,080.03 and Sydney's S&P/ASX 200 closed up 0.3 percent to 5,527.20.<br /> <br /> In energy markets, benchmark crude for July delivery was up 20 cents to $104.31 in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents to close Tuesday at $104.11<br /> <br /> The euro fell to $1.3622 from $1.3637 late Tuesday. The dollar dropped to 101.86 yen from 101.96 yen.
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