Global Shares Higher on Oil Gains

BEIJING (AP) -- Most global stock markets rose Tuesday as oil prices gained for a third day and China reported relatively strong industrial output for November.

KEEPING SCORE: In early trading, Germany's DAX gained 0.6 percent to 11,253.22 and France's CAC-40 was up 0.6 percent to 4,787.17. Britain's FTSE 100 advanced 0.3 percent to 6,913.97. On Monday, the FTSE 100 fell 0.9 percent and the DAX and CAC-40 both lost 0.1 percent. On Wall Street, the futures for the Dow Jones industrial average and the Standard & Poor's 500 index both rose 0.3 percent.

WALL STREET: Stocks pulled back following a record run, though a spurt in oil prices Monday helped push energy issues higher. Nine stocks fell on the New York Stock Exchange for every five that rose. The Standard & Poor's 500 has climbed 5.4 percent since the presidential election on expectations proposed tax cuts will lead to higher profits. The rise in energy stocks including Exxon Mobil and Chevron boosted the Dow Jones industrial average 0.2 percent to a record. The broader S&P gained 0.1 percent while the Nasdaq composite fell 0.6 percent.

FED WATCH: Investors expect the U.S. Federal Reserve to hike interest rates when it ends a policy meeting Wednesday. It would be only the second increase in a decade. The Fed has kept rates near zero since the 2008 global crisis but its leaders have indicated the U.S. economy is improving enough to start moving gradually toward normal policy. Low interest rates have helped to boost stock prices but are hurting savers who look for income from bank accounts and bonds.

ANALYST'S TAKE: Asian investors are "a little less optimistic" due to concern over Fed action and U.S.-Chinese tensions over Taiwan and Beijing's filing of a World Trade Organization complaint against the United States and Europe Union for failing to treat it as a market economy, according to Jingyi Pan of IG. "As each other's largest trading partner, the impact of a deteriorating relationship will be significant on both ends, commanding due concerns from the markets," Pan said.

ASIA'S DAY: Tokyo's Nikkei 225 rose 0.5 percent to 19,250.52 and the Shanghai Composite Index gained 0.1 percent to 3,155.04. Seoul's Kospi advanced 0.4 percent to 2,035.98 and Hong Kong's Hang Seng added 0.1 percent to 22,446.70. India's Sensex gained 0.7 percent to 26,700.46. Sydney's S&P-ASX 200 shed 0.3 percent to 5,545.00 and benchmarks in New Zealand and Southeast Asia also retreated.

ENERGY: Benchmark U.S. crude gained another 5 cents to $52.88 per barrel in electronic trading on the New York Mercantile Exchange. It was the third straight gain following last week's decision by major oil producers to cut production. On Monday, the contract surged $1.33 to $52.83. Brent crude, used to price international oils, rose 24 cents to $55.93 in London. It jumped $1.36 on Monday.

CHINA: Economic data for November showed relatively strong activity. Growth in industrial production accelerated to 6.2 percent over a year earlier from October's 6.1 percent. Retail sales and investment in real estate and other fixed assets also rose. "Another set of broadly positive data suggest that China is on track to end this year on a strong note," said Julian Evans-Pritchard of Capital Economics in a report.

CURRENCY: The dollar gained to 115.28 yen from Monday's 114.90 yen. The euro declined to $1.0623 from $1.0641.

(KA)