(Bloomberg) — Crude oil prices rose following supply disruptions in Libya and Iraq, while American and European stock futures were little changed following gains to record highs.Equities advanced in most Asian markets, though several saw thin volumes with the U.S. out on holiday Monday. The MSCI Asia Pacific Index hit its highest since 2018, though remains a laggard relative to Europe and the U.S., with the region nursing wounds from the trade war and China’s slowdown. The offshore yuan extended recent gains, rising to the strongest since July.Indicators of economic health from China and the U.S. last week provided some encouragement for investors looking for signs the global outlook is improving. Attention this week turns back to corporate earnings season.“We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they’re turning up, and the phase one trade deal” Anne Anderson, head of fixed income for Australia at UBS Asset Management, told Bloomberg TV in Sydney. “So it’s a bit more positive with regard to the economic fundamentals.”Meanwhile, oil traders are watching developments in Libya after one of the country’s commanders blocked oil exports at ports under his control. International leaders are working in Germany toward a more durable cease-fire in the Libyan civil war. In Iraq, supply from a second production site is at risk as widespread unrest escalates in one of OPEC’s biggest producers.Here are some events to watch out for this week:Companies including Netflix, IBM, UBS, Procter & Gamble and Hyundai will post results.Policy decisions are due from central banks including Japan, Canada, Indonesia and the European Central Bank.The World Economic Forum, the annual gathering of global leaders in politics, business and culture, opens in Davos, Switzerland.These are the main moves in markets:StocksFutures on the S&P 500 were little changed as of 7:10 a.m. in London. The underlying gauge rose 0.4% on Friday.Japan’s Topix index rose 0.5%.South Korea’s Kospi advanced 0.5%.Shanghai Composite was up 0.7%.Hang Seng Index dropped 0.6%.Euro Stoxx 50 futures were little changed.CurrenciesThe yen was steady at 110.18 per dollar.The offshore yuan rose 0.2% to 6.8528 per dollar.The euro bought $1.1101, little changed.BondsThe yield on 10-year Treasuries ended Friday at 1.82%.Australia’s 10-year yield was little changed at 1.17%.CommoditiesWest Texas Intermediate crude rose 1% to $59.15 a barrel.Gold rose 0.2% to $1,561.03 an ounce.\–With assistance from Haidi Lun.To contact the reporter on this story: Adam Haigh in Sydney at [email protected] contact the editors responsible for this story: Christopher Anstey at [email protected], Joanna OssingerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
