World stocks rise on higher Japan growth, US jobs

Source: AP-Excite

By ELAINE KURTENBACH

TOKYO (AP) — World stock markets were mostly higher Monday after stronger first quarter growth in Japan added to positive sentiment from solid hiring in the U.S.

European shares eked out gains in early trading. Germany's DAX rose 0.1 percent to 9,994.86 and France's CAC 40 added 0.1 percent to 4,584.58. Britain's FTSE 100 advanced 0.3 percent to 6,876.66. Wall Street was set for a more uncertain start. Dow Jones futures were down 0.1 percent at 16,919. S&P 500 futures fell 0.1 percent to 1,947.10.

Japan's government reported that the economy grew an annualized 6.7 percent in the January-March quarter thanks to strong private investment, up from an earlier estimate of 5.9 percent growth. The revised data shows the world's No. 3 economy in better shape to withstand the drop in consumer demand that followed a 3 percentage point hike in sales tax on April 1.

"Results are certainly stronger than expected," IG strategist Evan Lucas said in a market commentary.

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