(MENAFN- AFP) Stock markets inched higher Tuesday in most parts of the world, with encouraging economic data in China and Europe combining with steady oil to keep investors' mood mildly positive.
Figures pointing to a looming turnaround in China set the tone for optimism on the macro-econmic front.
Traders also reacted to news that Germany's official trade surplus beat expectations to shrink only slightly in June after exports returned to growth.
Elsewhere, retail sales surprisingly recovered in Britain during July as warmer weather cancelled out economic uncertainty triggered by the vote to exit the European Union, according to a survey by the British Retail Consortium and financial group KPMG.
"US stocks are nudging higher in early action, as the European equity markets are gaining ground," Charles Schwab analysts observed.
Wall Street edged 0.2 percent higher in early New York business, while London was up 0.6 percent, Frankfurt 1.0 percent and Paris 0.9 in the European afternoon.
"Sentiment remains upbeat for global equities mainly because of the (stimulus) actions of central banks, rebounding oil prices and the mostly better-than-expected US corporate earnings results," said Fawad Razaqzada at City Index trading group.
In Asia on Tuesday, China's producer prices fell in July at their slowest rate in nearly two years, fuelling hopes that the end of a painful slowdown could be in sight for a key driver of the global economy.
Heavyweight energy stocks rose after OPEC on Monday said it would hold an informal meeting in Algeria next month -- a hint it could take action to stabilise crude production.
Last Friday's strong US jobs data also continued to work their charm on markets, pointing to a buzzing American economy and a chance for the US central bank, the Fed, to finally implement a clear policy of tightening credit.
"Global markets have pushed higher over the past week on the idea that the US economy may soon be strong enough for the Fed to begin hiking rates once more," said Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor.
- Key figures at around 1340 GMT -
London - FTSE 100: UP 0.6 percent at 6,848.87 points
Frankfurt - DAX 30: UP 1.0 percent at 10,536.61
Paris - CAC 40: UP 0.9 percent at 4,453.25
EURO STOXX 50: UP 0.7 percent at 3,003.76
New York - DOW: UP 0.2 percent at 18,558.00
Tokyo - Nikkei 225: UP 0.7 percent at 16,764.9 (close)
Shanghai - Composite: UP 0.7 percent at 3,025.6 (close)
Hong Kong - Hang Seng: DOWN 0.1 percent at 22,463.9 (close)
Euro/dollar: UP at $1.1092 from $1.1084 Monday
Pound/dollar: DOWN at $1.2968 from $1.3040
Dollar/yen: DOWN at 102.07 yen from 102.45 yen
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