World shares dip, oil extends rally
MILAN – World shares dipped on Monday.
An MSCI gauge of global stocks was down 0.1 percent by 0808 GMT as losses in Asia and a weak open in Europe erased part of the gains seen last week on a strong start to the earnings season.
US stock futures were also lower with S&P 500 e-minis last down 0.2 percent and Nasdaq e-minis down 0.3 percent.
Oil prices extended a recent rally amid a global energy shortage with US crude touching a seven-year high and Brent a three-year peak.
Europe’s STOXX 600 equity benchmark index fell 0.4 percent, dragged by luxury stocks.
The yen meanwhile traded near its lowest in nearly three years against the dollar, as the Japanese central bank looked increasingly likely to trail behind other monetary authorities in terms of rate hikes.