World shares mixed as Europe tracks Wall Street gains

Washington: Shares were higher in Europe on Thursday after a mixed day of trading in Asia, where most major benchmarks declined. Germany's DAX picked up 0.6 per cent to 15,713.53, while the CAC 40 in Paris rose 0.8 per cent to 6,633.67. In London, the FTSE 100 advanced 0.5 per cent to 7,048.93. US futures were little changed, while the yield on the 10-year Treasury was steady at 1.31 per cent.

Hong Kong and Shanghai dropped amid disappointing economic data for August. China reported late Wednesday that its retail sales grew an anemic 2.5 per cent in August, down from 8.5 per cent in July, while factory output slowed to 5.3 per cent from 6.4 per cent the month before. It was the slowest growth in output since May 2020. "Yesterday's China data were a real shock," RaboResearch Global Economics & Markets said in a report. "This is hardly what one calls a robust consumer recovery," it said.

Adding to investors' unease, reports said troubled property giant Evergrande would fail to make interest payments due next week. Rating agencies have warned the cash-strapped company could default on its debt. Its Hong Kong traded shares fell 6.4 per cent on Thursday. They have lost more than half their value in the past month. The Hang Seng in Hong Kong declined 1.5 per cent to 24,667.85, while the Shanghai Composite index sank 1.3 per cent to 3,607.09.