World shares mixed as earnings reports boost Wall St

Bangkok: European shares opened lower on Thursday after a broad advance in Asia spurred by a rebound on Wall Street. Upbeat economic updates and a steady flow of quarterly reports from US companies have helped counter worries over surging share prices for Big Tech companies. But that optimism failed to carry over from Asia to Europe.

Germany’s DAX lost 0.2 per cent to 24,003.24, while the CAC 40 in Paris declined 0.5 per cent to 8,033.11. Britain’s FTSE 100 slipped 0.2 per cent to 9,761.18. The future for the S&P 500 was virtually unchanged while that for the Dow Jones Industrial Average lost 0.1 per cent.

In Asia, shares bounced back from a retreat the day before. Tokyo’s Nikkei 225 jumped 1.3 per cent to 50,883.68. Shares in Nissan Motor Co. fell 1.7 per cent after the company said it was selling its headquarters building in Yokohama to raise cash.

After trading closed, Nissan reported a 221.9 billion yen (USD 1.4 billion) loss for April-September and said its revenue dropped 7 per cent from a year earlier. In South Korea, the Kospi advanced 0.6 per cent to 4,026.45. Taiwan’s Taiex was up 0.7 per cent.