European Market - European stocks suffered another round of losses Monday, while US equities finished higher following a late-session rally in oil prices.
The commodities rout again hung over global equities, with another fall in oil prices in early trade prompting more selling in European bourses.London`s FTSE 100 ended down 1.3 percent, while Paris`s CAC 40 dropped 1.7 percent and Frankfurt`s DAX 30 1.9 percent. But crude prices moved into the positive zone in late trade, pulling up oil majors like ExxonMobil and Chevron and spurring the S&P 500 for a 0.5 percent gain at the close.
Tokyo shed 1.8 percent as the strong yen weighed on export-oriented stocks. However, Shanghai surged 2.5 percent as traders welcomed strong Chinese industrial production data over the weekend in a sign that government stimulus measures may be driving a mild recovery in the world`s second largest economy.The foreign exchange market avoided major swings two days ahead of a US Federal Reserve meeting that could result in the first US rate hike in almost a decade.
Apple fell 0.6 percent after Morgan Stanley lowered its price target on the technology giant based on a forecast of falling 2016 iPhone sales.
Yahoo fell 1.0 percent as investment fund SpringOwl called for the company to slash more than 80 percent of its workforce and replace chief executive Marissa Mayer. SpringOwl did not disclose the size of its investment in the tech company.
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