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International markets roundup

NEW YORK: All three major US stock indexes have closed slightly higher as investors eyed the looming United States-North Korea summit in Singapore while shrugging off the weekend's factious meeting of the G7.

President Donald Trump announced the United States' withdrawal from the G7's joint communique following a series of bellicose tweets aimed at Prime Minister Justin Trudeau after the Canadian leader announced retaliatory tariffs on goods imported from its ally to the south.

The markets seemed to take the trade row in its stride and looked instead to the impending summit between Trump and North Korean leader Kim Jong-Un, an historic effort to bridge differences and avoid nuclear confrontation on the Korean peninsula.

Investors are also anticipating this week's meetings of three of the world's top central banks: the US Federal Reserve, the European Central Bank and the Bank of Japan.

The Fed is widely expected to raise key interest rates on Wednesday, and on Thursday the ECB is seen moving toward a roll back of its crisis-era stimulus scheme.

The Dow Jones Industrial Average on Monday rose 0.02 per cent, to 25,322.31, the S&P 500 gained 0.11 per cent, to 2,782 and the Nasdaq Composite added 0.19 per cent, to 7,659.93.

LONDON: Export-oriented firms led British shares higher on Monday as a weaker pound stood to make them more competitive, while hopes of a bidding war boosted satellite provider Inmarsat.

Investors were cautious, however, as the pound's weakness resulted from an unexpected decline in UK factory output in April, raising concern that the British economy's sluggish start to the year continued.

The FTSE 100 index ended up 0.73 per cent at 7,737.43, its highest close in a week and helped by gains in big international companies such as British American Tobacco and Diageo, up 1.2 and 2.4 per cent respectively.

European banking stocks and Italian shares jumped after Italy's new economy minister promised to keep the country in the euro, dissipating investors' fears of a euro zone break-up and boosting sentiment after a fraught G7 summit.

Euro zone banks rose 3 per cent, helping the pan-European STOXX 600 gain 0.8 per cent while Italy's FTSE MIB jumped 3.4 per cent and Spain's IBEX 1.6 per cent.

Germany's DAX rose 0.60 per cent to 12,842.91.

TOKYO: Japanese stocks rose amid thin trade as investors looked ahead to the looming the US-North Korea summit, with traders ascribing part of the broader gains to buying in futures.

Japan's Nikkei 225 index closed up 0.48 per cent at 22,804.04, while MSCI's Asia ex-Japan stock index was firmer by 0.31 percent.

Hong Kong shares rose slightly ahead of a US-North Korea summit that investors hope might pave the way for an end to the nuclear stand-off on the Korean peninsula.

The Hang Seng index gained 0.34 per cent to 31,063.70, while the China Enterprises Index gained 0.1 per cent to 12,172.03.

Shanghai stocks fell for a third straight session, on investor concerns over the liquidity conditions in the market.

The Shanghai Composite Index touched its lowest level since last May before closing down 0.47 per cent at 3,052.78 points, while the blue-chip CSI300 index was flat at 3,779.98 points.

WELLINGTON: New Zealand's S&P/NZX 50 index lifted 0.24 per cent to 8,959.81.