Global stocks rise after upbeat US economic data
AP and AFP
May 29, 2014, 12:06 am TWN
BEIJING/HONG KONG--Global stocks mostly rose Wednesday on upbeat data that reinforced confidence in the U.S. economic recovery.
Oil edged up to stay above US$104 a barrel as traders weighed the impact of conflicts in Ukraine and Libya.
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.
Futures augured more gains on Wall Street with Dow and S&P 500 futures both up 0.1 percent.
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.
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.