Global stock markets upbeat after long weekend


European markets rose Tuesday following the long weekend on optimism about the French election, while the Nasdaq (Frankfurt: 813516 - news) edged to a fresh record ahead of Apple (NasdaqGS: AAPL - news) earnings.

Analysts said polls showing a likely victory Sunday by centrist Emmanuel Macron in the second round of the French presidential election boosted sentiment. Markets in London, Paris and Frankfurt all gained at least 0.6 percent in the first trading day of the week.

"Markets returned from May Day (Labor Day) holidays in positive spirit," said Jasper Lawler, senior market analyst at LCG. "Investors were buying up stocks while discarding bonds and havens including gold."

Wall Street indices posted modest gains, enough for the Nasdaq to finish at a record for the second straight day at 6,095.37.

"The market is probably just taking a breather after the solid gains that were posted last week," said Bill Lynch, director of investment for Hinsdale Associates.

Apple rose 0.6 percent during Tuesday's session ahead of its earnings release, but shares shed 2.0 percent in after-hours trading after the quarterly results disappointed.

Apple's profit rose 4.9 percent to $11 billion, but revenues came in about $100 million shy of analyst estimates for $53 billion.

Apple's results follow strong earnings in the last couple of days from Amazon, Google parent Alphabet (Xetra: ABEA.DE - news) and other technology companies.

Investors are looking ahead to Wednesday's monetary policy announcement from the Federal Reserve, although no move in interest rates is expected.

In Asia, Tokyo fizzed 0.7 percent higher, with a weaker yen boosting exporters.

The greenback is pushing back above 112 yen, having fallen last month on worries about Donald Trump's ability to push through his pro-growth agenda. But the dollar retreated against the euro and the pound.

Oil prices fell sharply on worries about excess supplies.

- Key figures at 2050 GMT -

New York - Dow Jones Industrial Average: UP 0.2 percent at 20,949.89 (close)

New York - S&P 500: UP 0.1 percent at 2,391.17 (close)

New York - Nasdaq: UP 0.1 percent at 6,095.37 (close)

London - FTSE 100: UP 0.6 percent at 7,250.05 points (close)

Frankfurt - DAX 30: UP 0.6 percent at 12,507.90 (close)

Paris - CAC 40: UP 0.7 percent at 5,304.15 (close)

EURO STOXX 50: UP 0.5 percent at 3,578.00

Tokyo - Nikkei 225: UP 0.7 percent at 19,445.70 (close)

Hong Kong - Hang Seng: UP 0.3 percent at 24,696.13 (close)

Shanghai - Composite: DOWN 0.4 percent at 3,143.71 (close)

Euro/dollar: UP at $1.0925 from $1.0900

Pound/dollar: UP at $1.2932 from $1.2888

Dollar/yen: UP at 112.04 yen from 111.82 yen

Oil - Brent North Sea: DOWN $1.06 at $50.46 per barrel

Oil - West Texas Intermediate: DOWN $1.18 at $47.66 per barrel