Futures up slightly … Crude rises … Spotify IPO
TOKYO (AP) – Global shares were mixed today as sentiment was dragged down by a slide on Wall Street, but Chinese benchmarks rose on optimism for growth. U.S. shares are set to drift higher with Dow futures adding 0.1 percent at 25,066. S&P 500 futures were up 0.2 percent at 2,719.
NEW YORK (AP) – Benchmark U.S. crude added 15 cents to $61.79 per barrel. Brent crude, the international standard, rose 22 cents to $64.95 per barrel. The dollar dipped to 106.87 yen from 107.18 yen late Wednesday.
BEIJING (AP) – China’s Communist Party has affirmed promises to give market forces the “decisive role” in allocating resources. The party’s ambitious agenda includes nurturing more sustainable growth driven by domestic consumption instead of trade and investment and doubling incomes from 2010 levels by 2020.
PARIS (AP) – French carmaker PSA Group says it made record profits and sales last year despite the costs of buying long-struggling Opel. PSA, the maker of Peugeot and Citroen cars, reports an 11.5 percent rise in net income to $2.3 billion. Sales grew over 20 percent, partly thanks to the addition of Opel.
SAN RAMON, Calif. (AP) – Music-streaming pioneer Spotify is hoping to attract a new crowd of fans on Wall Street as its competition with Apple heats up. Spotify is pursuing an unusual initial public offering that will sell some of its existing stock instead of issuing more shares to raise money.