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Asian, European stocks head in different directions

  • Asian shares mostly rose but European equities are adding to losses from yesterday, while U.S. stock futures are pointing to a positive open after a weak performance on Wall Street in the previous session.
  • The Shanghai Composite increased 0.35% to end a four-day slide as fears from earlier this week about the property sector wore off. The yuan is little changed at 6.1248 to the dollar after recent declines. "The market is just very jittery," says UBS's Kelvin Tay. Concerns about the weaker yuan and tighter real-estate financing are "overdone," Tay says.
  • In Europe, earnings reports and analyst actions are weighing on some stocks, including Seadrill.
  • Elsewhere in Asia, Japan -0.5%, Hong Kong +0.5%, India +0.65%.
  • Euro Stoxx 50 -0.2%, London -0.4%, Paris -0.3%, Frankfurt -0.2%, Milan +0.1%, Madrid +0.1%.
  • U.S. stock futures: Dow +0.2%, S&P +0.2%, Nasdaq +0.2%.
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