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May 29, 2017

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World stocks rise as Ukraine plane tensions ease

TOKYO--World stock markets rose Tuesday as tensions over the downing of a passenger jet in Ukraine eased after pro-Moscow separatists released a train packed with bodies and handed over the aircraft's black boxes.

In Europe, Britain's FTSE 100 gained 0.5 percent to 6,764.55 and Germany's DAX added 0.8 percent to 9,689.15. France's CAC-40 gained 0.6 percent to 4,328.51. U.S. markets looked set for an upbeat start, with Dow futures up 0.2 percent and S&P 500 futures up 0.1 percent.

Shares fell Monday as investors awaited corporate earnings while monitoring the mounting political turmoil in Gaza and Ukraine.

Some investors fear Western governments, already alarmed by Russia's support for rebels in Ukraine's east, might toughen economic sanctions over the shooting down of the Malaysia Airlines last week with 298 people aboard.

The conciliatory moves by the rebels came as European Union foreign ministers were due to meet Tuesday to discuss such penalties.

Stock markets in Southeast Asia were mostly higher, though Indonesian shares tumbled 1.7 percent to 5,039.59 as authorities prepared to release official results of the country's hotly disputed presidential election.

Asian markets picked up Tuesday with traders welcoming news that pro-Russian rebels had handed over the black boxes from downed flight MH17, helping to ease geopolitical concerns.

Hong Kong rallied 1.69 percent, or 394.97 points, to close at 23,782.11 — its highest level since December — and Shanghai rose 1.02 percent, or 21.00 points, to 2,075.48.

Tokyo closed up 0.84 percent, or 127.57 points, at 15,343.28, Seoul ended 0.52 percent higher, adding 10.43 points to 2,028.93, and Sydney ended up 0.06 percent, or 3.4 points, at 5,543.3.

Wall Street's three main indexes ended in the red Monday on concerns over Ukraine before news of the black box breakthrough emerged.

The Dow fell 0.28 percent, the S&P 500 eased 0.23 percent and the Nasdaq lost 0.17 percent.

U.S. dealers were also spooked by the ongoing battle in Gaza, where Israel has mounted a ground assault against Hamas, leading to the deaths of hundreds of civilians.

Gold fetched US$1,306.89 an ounce by 0800 GMT compared with US$1,314.80 late Monday.

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