Tuesday, January 31, 2012

Global stocks mixed on Greek debt deal

US equities fell on Tuesday after disappointing US economic data added to gloom over fading hopes for a Greek debt restructuring deal.

The Dow Jones industrial average was down 15.47 points, or 0.12 percent, at 12,638.25. The Standard & Poor's 500 Index was down 0.35 points, or 0.03 percent, at 1,312.66. The Nasdaq Composite Index was up 2.49 points, or 0.09 percent, at 2,814.43.

European share prices rose on renewed hopes for a Greek debt deal and after euro zone leaders agreed to a German-led deal on stricter budget controls.

The FTSEurofirst 300 index of top European shares rose 0.6 percent to close at 1,037.05 points. It gained 3.6 percent in the month of January.

Japan's Nikkei share average ended nearly flat, but logged its best January performance in 13 years as investors remained optimistic that the US economic recovery could offset disappointing domestic corporate earnings.

It gained 4.1 percent in January, much better than its average of 1.37 percent for the month between 1972 and 2011.

The Nikkei edged up 0.1 percent to 8,802.51, ending a three-day losing streak. The broader Topix eased 0.2 percent to 755.27, weighed down by shares of companies that reported weaker-than-expected results.