sunny.png
Monday July 26th, 2021 11:58AM

World shares mixed on worries virus may upend recoveries

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — European shares opened higher Tuesday after Asia tracked a retreat on Wall Street as investors grew jittery over the possibility that surging virus cases could stifle the global economic recovery.

Benchmarks rose in Paris and London but fell in Asia. U.S. futures were higher and the yield on the 10-year Treasury dropped to 1.18%.

Alarm has been mounting in Japan where, with just three days to go before the Tokyo Olympics open, new coronavirus cases are being found among athletes and non-athletes affiliated with the Games.

The Japanese government has repeatedly promised “a safe and secure” Games, but just about 22% of the Japanese population is fully vaccinated.

The World Health Organization says cases and deaths are climbing globally after a period of decline, spurred by the highly contagious delta variant.

France's CAC 40 gained 0.4% to 6,322.92, while Germany's DAX rose 0.1% to 15,150.96. Britain's FTSE 100 added 0.3% to 6,861.42. The futures for the Dow industrials and the S&P 500 were up 0.3%.

In Asia, Tokyo's Nikkei 225 slipped 1.0% to finish at 27,388.16. South Korea's Kospi shed 0.4% to 3,232.70. Australia's S&P/ASX 200 declined 0.5% to 7,252.20. Hong Kong's Hang Seng lost 0.8% to 27,259.25, while the Shanghai Composite inched down nearly 0.1% to 3,536.79.

Given how tightly connected the global economy is, flare-ups in COVID anywhere can quickly affect the rest of the world.

Even in the U.S., where the vaccination rate is higher than in many other countries, people in Los Angeles County must once again wear masks indoors regardless of whether they're vaccinated following spikes in cases, hospitalizations and deaths.

Any worsening of virus trends threatens the high prices that stocks have achieved on expectations the economy will fulfill those lofty forecasts.

Besides the new variants of the coronavirus, other risks include fading pandemic relief efforts from the U.S. government and a Federal Reserve that looks set to begin paring back its assistance for markets later this year.

This week brings a slew of earnings reports. Across the S&P 500, analysts are forecasting profit growth of nearly 70% for the second quarter from a year earlier. That would be the strongest growth since 2009, when the economy was climbing out of the Great Recession.

In energy trading, benchmark U.S. crude rose 7 cents to $66.42 a barrel in electronic trading on the New York Mercantile Exchange. It sank $5.21 on Monday to $66.35.

Brent crude, the international standard, added 2 cents to $68.64 a barrel.

In currency trading, the U.S. dollar slipped to 109.41 Japanese yen from 109.46 yen. The euro fell to $1.1796 from $1.1802.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Calls for outside help as extreme weather fuels Oregon fires
The threat of thunderstorms and lightning has prompted officials in Oregon to ask for wildfire crews from outside the Pacific Northwest to prepare for additional blazes
6:30AM ( 5 minutes ago )
World shares mixed on worries virus may upend recoveries
European shares have opened higher after Asia tracked a retreat on Wall Street
6:28AM ( 8 minutes ago )
France investigates alleged spyware use against dissidents
The Paris prosecutor’s office is investigating the suspected use of spyware made by Israel-based NSO Group to target journalists, human rights activists and political dissidents
6:01AM ( 35 minutes ago )
Associated Press (AP)
Greek traditional wooden boat builders a dwindling craft
The Greek island of Samos was once a major production center of traditional wooden boats, the hand-crafted vessels indelibly linked to the image of Greece
4:40AM ( 1 hour ago )
Chinese pop star dumped by brands over sex complaint
A popular Chinese-Canadian singer, Kris Wu, has lost endorsement deals for at least 10 brands including Porsche and Bulgari after a teen-ager accused him of having sex with her while she was drunk
4:00AM ( 2 hours ago )
Asian shares fall on virus variant worries, Wall St retreat
Asian shares have fallen as worries grow that a faster-spreading variant of the coronavirus could upend the global economic recovery
2:25AM ( 4 hours ago )
AP Business
Stocks skid as virus fears shake markets; Dow falls 2.1%
Stocks skidded on Wall Street, and investors sought refuge in government bonds amid worries that fast-spreading variants of the coronavirus will threaten the economic recovery
5:28PM ( 13 hours ago )
Stocks skid, yields sink as virus fears shake global markets
Stocks skidded on Wall Street, and investors sought refuge in government bonds amid worries that fast-spreading variants of the coronavirus will threaten the economic recovery
4:38PM ( 13 hours ago )
Stocks skid as investors fear virus surge will dent recovery
Stocks skidded on Wall Street and investors sought refuge in government bonds amid worries that a surge in virus infections around the world will threaten the economic recovery
4:16PM ( 14 hours ago )
AP Business - Economy
Stocks sink, yields tumble as virus fears circle the world
Stocks around the world are falling amid worries about a resurgence in global infections of COVID-19
10:05AM ( 20 hours ago )
US stocks open lower as worries grow about virus spread
Stocks are opening broadly lower on Wall Street, echoing losses overseas, as investors become more worried about a resurgence in global infections of COVID-19
9:47AM ( 20 hours ago )
Global shares fall on virus fears; S&P 500 futures down 1%
Global shares have fallen across the board amid deepening pessimism over rising COVID-19 infections
8:49AM ( 21 hours ago )
AP Business - Financial Markets
Calls for outside help as extreme weather fuels Oregon fires
The threat of thunderstorms and lightning has prompted officials in Oregon to ask for wildfire crews from outside the Pacific Northwest to prepare for additional blazes
6:30AM ( 5 minutes ago )
France investigates alleged spyware use against dissidents
The Paris prosecutor’s office is investigating the suspected use of spyware made by Israel-based NSO Group to target journalists, human rights activists and political dissidents
6:01AM ( 35 minutes ago )
US women shut out the noise in quest for 5th gold medal
The U.S. women's national team has become adept at shutting out all the outside distractions at big tournaments and the Tokyo Olympics are no different
5:43AM ( 52 minutes ago )
For Carli Loyd, other older Olympians, age is just a number
Older Olympians will be proving that age is just a number in Tokyo
5:42AM ( 53 minutes ago )
Biden wants spending to boost economy, but GOP to block vote
President Joe Biden says his infrastructure and families agenda must be passed to sustain economic momentum
5:41AM ( 54 minutes ago )