European stocks bounced back Monday from Ukraine-related concerns that had caused sharp selling last week. Wall
Street was expected to open higher but Asian markets were subdued by further signs of weakness in China’s property market.
KEEPING SCORE: Germany’s DAX jumped 1.4 percent to 9,215.48 and France’s CAC 40 added 1 percent to 4,216.41. Britain’s FTSE 100 rose 0.7 percent to 6,732.51. In the U.S., Dow futures were up 0.5 percent to 16,715 while S&P 500 futures added 0.5 percent to 1,962.
UKRAINE: European markets tumbled Friday on reports Ukraine destroyed a Russian military convoy that had crossed its eastern border. That incident, which was denied by Moscow, did not result in a military escalation by Russia — a prospect some investors were worrying about. Meanwhile, Ukrainian army troops penetrated deep inside a city controlled by pro-Russian rebels in eastern Ukraine in what could prove a breakthrough development in the four-month-long conflict, the Ukrainian government said Sunday.
ASIA’S DAY: Trading was cautious after Friday’s selling spasm in Europe and on Wall Street. Weak China property prices added to the caution. Japan’s Nikkei 225 inched up 0.1 percent while Seoul’s Kospi dropped 0.5 percent. Hong Kong’s Hang Seng was little changed but China’s Shanghai Composite added 0.6 percent.
Foreign Ministers of France Laurent Fabius, Ukraine Pavlo Klimkin, Germany Frank-Walter Steinmeier and Russia Sergey Lavrov, from left, go for a walk before a meeting at the Guesthouse of Foreign Ministry Villa Borsig in Berlin, Sunday, Aug. 17, 2014.