World stocks mostly higher on steady yuan, Greek progress

1Monday, Aug. 17, 2015 | 6:48 a.m.
2World stock markets were mostly higher Monday as the yuan steadied and Greece inched closer to receiving its latest bailout.
3KEEPING SCORE: European stocks opened higher, with France's CAC 40 up 0.5 percent to 4,982.93, while Germany's DAX gained 0.4 percent to 11,032.42.
4Britain's FTSE 100 was flat at 6,549.97.
5U.S. stocks were poised to open slightly lower, with Dow futures down less than 0.1 percent to 17,432.00.
6Broader S&P 500 futures dipped 0.1 percent to 2,088.00.
7GREEK CRISIS: European finance ministers on Friday approved the first 26 billion euros ($29 billion) that Greece needs to rebuild its economy.
8German lawmakers will decide on the package on Wednesday in a special parliamentary session, at which dozens of lawmakers from German Chancellor Angela Merkel's conservative bloc are expected to oppose it.
9YUAN STEADIES: Chinese authorities raised by a smidgen the daily level for the country's currency, which is allowed to rise or fall by 2 percent against the dollar each day in the spot markets.
10Monday's rate fix further calmed Asian markets after Beijing last week devalued the yuan, which resulted in the currency weakening as much as 3 percent.
11JAPAN ECONOMY: The Nikkei was lifted after government data showed Asia's second-biggest economy contracted 1.6 percent in the April-June quarter on bad weather and slowing China demand, raising hopes of fresh stimulus.
12Prime Minister Shinzo Abe has championed a huge monetary easing program aimed at kick-starting economic growth, but analysts say the poor results so far suggest that the central bank may pump in even more money in the months to come, a move that would also support the stock market.
13ANALYST VIEW: "These numbers are in no way positive as the Japanese economy teeters on the brink of full contraction," said Stephen Innes, senior foreign exchange trader at OANDA.
14"The data continues to lend support for additional quantitative easing in Japan."
15BLAST FALLOUT: Shares of Tianjin Port Development Holdings tumbled 13 percent as worries deepened over last week's huge explosions at the busy Chinese port city.
16The blasts, which originated at a warehouse storing more hazardous material than permitted, left at least 114 people dead and 70 missing.
17ASIA'S DAY: Japan's benchmark Nikkei 225 index rose 0.5 percent to close at 20,620.26, while South Korea's Kospi slipped 0.8 percent to 1,968.52.
18Hong Kong's Hang Seng fell 0.7 percent to 23,814.65 and the Shanghai Composite Index in mainland China added 0.7 percent to 3,993.67.
19Australia's S&P/ASX 200 rose 0.2 percent to 5,367.70.
20ENERGY: U.S. crude oil fell 68 cents to $41.82 in electronic trading on the New York Mercantile Exchange.
21The contract rose 27 cents Friday to close at $42.50.
22Brent crude, a benchmark for international oils used by many U.S. refineries, fell 58 cents to $48.61 in London.
23CURRENCIES: The dollar rose to 124.47 yen from 124.32 in late trading Friday.
24The euro slipped to $1.1101 to $1.1111.