​World markets slip as oil prices slide again

TOKYO - Global shares were mostly lower in Wednesday trading, with only some markets cheered by an overnight rally as investor sentiment grew cautious on lower oil prices.

In Europe around 8 a.m. Eastern, France's CAC 40 lost 0.3 percent to 4,687, and Germany's DAX fell 0.9 percent to 10,763. Britain's FTSE 100 slipped 0.5 percent to 6,285. U.S. shares were set to open lower, with Dow futures down 0.3 percent at 17,590 and S&P 500 futures losing 0.2 percent to 2,068. U.S. stocks had rallied sharply on Tuesday.

In Asian trading, Japan's benchmark Nikkei 225 gained 0.3 percent to finish at 19,033.71, but activity was muted on the last trading day of the year ahead of the New Year's holiday. People clapped in rhythm at the Tokyo Stock Exchange in Japan's customary ceremony to close out the year.

South Korea's Kospi dipped 0.3 percent to 1,961.31. Hong Kong's Hang Seng fell 0.5 percent to 21,882.15, while the Shanghai Composite added 0.3 percent to 3,572.88. Other regional shares were also mixed, rising in Indonesia but dropping in Taiwan and Singapore.

The latest batch of U.S. economic data added to the upbeat sentiments. The Conference Board said its consumer confidence index increased from the previous month, reflecting positive views on the economy and job market. Separately, a key gauge of home values indicated that U.S. home prices climbed 5.5 percent in October from a year earlier.

"This year's Santa rally is doing what many of its predecessors have done," said Ric Spooner, chief market analyst at CMC Markets. "The stock market continues to push higher on thin volume and with no need for a macro catalyst. At the moment, the market is all about sentiment and perceived value."

Spooner warned that caution could set in after the new year comes.

Benchmark U.S. crude fell 99 cents to $36.88 a barrel on the New York Mercantile Exchange, losing some of the overnight price recovery. Brent crude, used to price international oils, slipped 65 cents to $37.14 a barrel in London.

The dollar rose to 120.44 yen, up from 120.37 yen late Tuesday. The euro slipped to $1.0937 from $1.0977.