BEIJING - Global stock markets were mixed Tuesday as oil prices extended losses that are weighing on energy company shares.
France's CAC-40 lost 0.6 percent to 4,360.78 and Germany's DAX shed 0.1 percent to 10,171.85. London's FTSE 100 gained 0.1 percent to 6,720.30.
Wall Street looked set for a slow open: Dow Jones and Standard & Poor's 500 futures were virtually unchanged.
Stocks fell Monday as investors took a break after four weeks of gains that brought the market to record highs. Energy stocks tumbled as the price of oil slid 2 percent, leaving U.S. benchmark crude down 12 percent this month. Chevron lost 2.5 percent and Exxon Mobil gave up 2 percent, the two biggest drops for companies that make up the Dow. The worry is that crude inventories will rise further, depressing prices and profits.
"U.S. markets were dramatically thrown off course by the capitulation in energy stocks," Angus Nicholson of IG said in a report. Apart from unease over rising U.S. gasoline stocks during the peak summer driving season, investors are worried over European banks: "Concerns about the Italian banking sector threaten to rear their ugly head again this week as all European banks undergo stress tests," he said.
The Shanghai Composite Index gained 1.1 percent to 3,050.17 percent and Hong Kong's Hang Seng added 0.6 percent to 22,129.73. Tokyo's Nikkei 225 shed 1.4 percent to 16,383.04. Benchmarks in South Korea, Taiwan and Indonesia gained. Sydney's S&P ASX 200 was flat at 5,537.50 and India's Sensex also was unchanged at 28,108.28. New Zealand, Singapore and Thailand declined.
The Bank of Japan and the U.S. Federal Reserve are due to hold policy meetings this week. With Japan's economy barely growing, economists are speculating about whether its central bank may push interest rates lower into negative territory when it announces its decision Friday. The U.S. economy is in better shape than other advanced economies, but expectations are the Fed will hold interest rates steady.
Shares in Yahoo, the original Internet giant, fell $1.06, or 2.7 percent, to $38.32 after the company announced Verizon would buy its advertising, media and email businesses for $4.8 billion. The remainder of Yahoo will be a holding company for its Alibaba and Yahoo Japan investments, as well as its patent portfolio. Verizon fell 23 cents, or 0.4 percent, to $55.87.
Benchmark U.S. crude fell 44 cents to $42.69 per barrel in electronic trading on the New York Mercantile Exchange. It sank 94 cents on Monday to close at $43.13. Brent crude, used to price international oils, lost 26 cents to $44.46 after falling 97 cents during the previous session, to $44.72.
The dollar declined to 104.34 yen from Monday's 105.70. The euro edged up to $1.1007 from $1.0994.