Europe stocks gain as Wall St. set for rebound, Asia down
Source: AP-Excite
By YOUKYUNG LEE
SEOUL, South Korea (AP) — European stock markets got off to a solid start Wednesday as U.S. futures pointed to a rebound on Wall Street. Asian markets closed lower, dented by weak earnings in Australia, a jump in oil prices and volatility in Chinese stocks.
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KEEPING SCORE: Britain's FTSE 100 added 0.3 percent to 6,949.23 and Germany's DAX rose 0.8 percent to 11,415.48. France's CAC 40 gained 0.5 percent to 4,999.04. Futures showed that Wall Street was set to recoup part of the previous day's losses. S&P500 futures and Dow futures both climbed 0.3 percent.
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ASIA'S DAY: South Korea's Kospi fell 1.3 percent to 2,104.58 and Australia's S&P/ASX 200 sank 2.3 percent to 5,692.20. Stocks in Southeast Asia were also lower. Chinese markets, which briefly rebounded from their biggest drop in months on Tuesday, failed to sustain the gains. Hong Kong's Hang Seng index dropped 0.4 percent to 27,640.91 and China's Shanghai Composite Index lost 1.6 percent to 4,229.27. Japan was closed for a holiday.
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THE QUOTE: "It's hard to get consistency in markets at the moment and equities have been very choppy in recent weeks," Stan Shamu, a market strategist at IG, said in a commentary. "A consistent theme has been the sell-off in bond markets as equities now seem to be responding to this as well."
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Currency traders work in front of screens showing the Korea Composite Stock Price Index (KOSPI), right, and foreign exchange rate at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Wednesday, May 6, 2015. Asian stock markets were in the red on Wednesday, dented by weak earnings in Australia and doubts about Greece's ability to repay debts due to the IMF this month. Chinese markets turned lower after a brief rebound from the previous day's sell-off. The KOSPI dropped 1.30 percent at 2,104.58. (AP Photo/Ahn Young-joon)
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