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Stock market today: Global shares up ahead of U.S. GDP update

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Global shares were mostly higher Thursday ahead of the release of data that are expected to show the world's biggest economy slowing in the first quarter of the year.

Shares rose in Paris, Frankfurt, Tokyo, Hong Kong and Shanghai but fell in London and Sydney. U.S. futures and oil prices were higher.

In early trading Thursday, France's CAC 40 added 0.4% to 7,496.69, while Germany's DAX edged up 0.1% to 15,814.15. Britain's FTSE 100 was at 7,844.87, down 0.1%. The future for the Dow Jones Industrial Average was up 0.3% and the contract for the S&P 500 future was 0.5% higher. Australia's S&P/ASX 200 slipped 0.3% to 7,292.70. South Korea's Kospi rose 0.4% to 2,495.81. Hong Kong's Hang Seng added 0.4% to 19,840.28, while the Shanghai Composite added 0.7% to 3,285.88.

Concerns about the strength of U.S. banks have weighed on markets lately, especially the spotlight on First Republic Bank. The worry is that it and other smaller and mid-sized banks could suffer debilitating runs of deposits from customers, similar to the ones that caused last month's failures of Silicon Valley Bank and Signature Bank.

 

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