World Markets Subdued As S&P Heads For 1,100

PAN PYLAS

LONDON (AP) — European stock markets rose modestly Thursday as investor optimism was dented by a subdued performance in Asia. Wall Street was expected to retreat after the Standard & Poor's 500 index failed to close above 1,100 the day before.

The FTSE 100 index of leading British shares was up 11.67 points, or 0.2 percent, at 5,278.42, while Germany's DAX rose 7.03 points, or 0.1 percent, to 5,675.38. The CAC-40 in France was 2.13 points, or 0.1 percent, higher at 3,816.52.

Wall Street was poised for a fairly subdued opening after a lackluster finish on Wednesday — Dow futures were down 20 points, or 0.2 percent, at 10,239 while the broader Standard & Poor's 500 futures fell 2.3 points, or 0.2 percent, at 1,094.

On Wednesday, the S&P closed at 1,099, its highest level since October last year, though it had traded even higher earlier in the session.

Ben Potter, a research analyst at IG Markets in Australia, said "it's going to be a sustained break past 1,100 on the S&P that will offer the final reassurance that this is no bear market rally."