KEEPING SCORE: France’s CAC 40 added 0.4 percent to 5,047.56 in early trading, while Germany‘s DAX was at 11,383.30, up 0.4 percent. Britain’s FTSE100 added 0.4 percent to 7,042.59. U.S. shares were set to drift lower with Dow futures up less than 0.1 percent to 25,461. S&P 500 futures added 0.1 percent to 2,745.00.
BREXIT: British Prime Minister Theresa May was striving to win business support for her Brexit deal with the European Union, but remained on a collision course with lawmakers seeking to unseat her. In a speech Monday, May planned to say the deal “fulfils the wishes of the British people as expressed in the 2016 referendum” to leave the EU, and the withdrawal has already been decided upon.
Some pro-Brexit lawmakers in May’s Conservative Party oppose the deal between Britain and the EU. They are trying to gather the 48 lawmakers they need to trigger a no-confidence vote in Parliament.
TRADE WORRIES: Clashes between China and the U.S. at a Pacific Rim summit over the weekend may signal limited prospects for a breakthrough in a standoff over the Trump administration’s complaints that Beijing steals or pressures foreign companies to hand over technology as the price of market access. The U.S. has imposed a 10 percent tariff on $200 billion of Chinese goods. That tariff is set to rise to 25 percent in January. Another $50 billion of Chinese goods already is subject to 25 percent duties. Beijing has responded with penalty duties on $110 billion of American goods.
Talks continue ahead of a meeting between Chinese President Xi Jinping and President Donald Trump planned for the G-20 summit later this month.
JAPAN TRADE: Japan’s trade deficit widened in October but its exports rebounded after they were slammed by natural disasters in September. Data from the Ministry of Finance showed exports grew 8.2 percent from the same month the previous year. In September, exports fell 1.2 percent from the previous year in the first decline for the world’s third-largest economy since 2016. Imports in October grew 19.9 percent on-year.
THE QUOTE: “The APEC Summit held at Papua New Guinea revealed just how deep the rifts between U.S. and China are, watering down hopes of an imminent U.S.-China trade deal that averts further tariffs,” said Vishnu Varathan of Mizuho Bank in Singapore.
ASIA’S DAY: Japan’s benchmark Nikkei 225 rose 0.7 percent to finish at 21,821.16 and Hong Kong’s Hang Seng added 0.7 percent to 26,372.00. The Shanghai Composite index added 0.9 percent to 2,703.51 and India’s Sensex climbed 0.6 percent to 35,666.25. South Korea’s Kospi gained 0.4 percent to 2,100.06. Australia’s S&P/ASX 200 fell 0.6 percent to 5,693.70. Shares in Southeast Asia were mixed.
ENERGY: Benchmark U.S. crude oil added 74 cents to $57.42 a barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, used to price international oils, gained 55 cents to $67.31 per barrel.
CURRENCIES: The dollar inched down 112.82 yen from 112.83 yen late Friday. The euro was also little changed, at $1.1418, up from $1.1417.
By YURI KAGEYAMA, Associated Press