By Natascha Divac
Global stocks traded slightly higher Tuesday, as volumes remained thin with little news to give markets any clear direction on the first trading day after the long holiday weekend.
Futures pointed to a flat opening for the Dow Jones Industrial Average. The Stoxx Europe 600 was up 0.2% with London markets still closed.
"I expect no big move today," said Guilhem Savry, investment manager at Unigestion.
The Stoxx Europe 600 Banks Index was down 0.1% amid ongoing concerns about the future of Italy's ailing lender, Banca Monte dei Paschi. The bank was still suspended from trade Tuesday.
Plans for a government bailout will need to be approved by the European Union to ensure state-aid rules aren't breached, European Central Bank Governing Council member Jens Weidmann said Monday.
The ECB told Monte dei Paschi that its capital shortfall has jumped to EUR8.8 billion ($9.19 billion) from the EUR5 billion expected when the government organized a rescue last week. The latest figure significantly raises the amount the Italian government will have to deploy to rescue the troubled lender.
Shares in Deutsche Bank declined 1.9% after the German lender's $7.2 billion settlement with the U.S. Department of Justice sent its stock sharply higher on Friday.
Earlier, shares in Asia were mixed. Japan's Nikkei Stock Average closed flat after Japanese consumer prices fell for a ninth consecutive month in November. Shanghai stocks fell 0.2%, while Australian and Hong Kong markets remained closed Tuesday.
Elsewhere in markets, the dollar was little changed against the euro, yen and pound.
Crude oil rose 0.3% to $53.15 a barrel.
Ten-year German bund yields were marginally lower at 0.200% from 0.226% Friday, while the 10-year U.S. Treasury note edged higher to 2.553% from 2.542%.
In the U.S., investors will be watching the consumer confidence index at 1500 GMT.
Write to Natascha Divac at firstname.lastname@example.org
(END) Dow Jones Newswires
December 27, 2016 08:35 ET (13:35 GMT)
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