(RTTNews) - The European markets are likely to extend their last week’s winning streak Monday amid gains across Asia. Commodity-related stocks may be in the spotlight as dollar stayed weak in Asian trading today.

In economic news, the average asking price for a home in the United Kingdom was up 1.6 percent year-over-year in November, property Web site Rightmove said on Monday. Coming in at 226,440 pounds, the reading marked the highest annual increase in 18 months following the 0.2 percent year-over-year gain in October. However, on a monthly basis, prices were down 1.6 percent after the 2.8 percent spike in the previous month.

Asian stocks showed sharp gains across the board on Monday, tracking a weaker dollar and higher commodity prices after a 21-member APEC group endorsed stimulus measures to keep the global economy from sliding back into recession and a government report showed Japanese capital spending rose faster-than-estimated in the quarter to September.

On Wall Street, the major U.S averages rose by less than a percent each on Friday despite the headwind of a bleak reading on consumer attitudes and widening fiscal deficit. The Dow futures are currently up by 58 points.

After falling to a one-month low on Friday, crude oil is now trading up by over a percent at $77.30 per barrel, ahead of the release of a crucial report on New York manufacturing.

In corporate news, HSBC Bank Plc, a wholly owned subsidiary of HSBC Holdings Plc said that it agreed to sell its London headquarters, 8 Canada Square, to the National Pension Service of Korea, or NPS for GBP 772.5 million in cash.

Rolls-Royce Plc received orders worth about $2 billion from Air China and Ethiopian Airlines to deliver larger planes and also for maintenance, repair and overhaul, said a report.

French media and telecommunications conglomerate Vivendi SA may soon decide about selling its 20% stake in General Electric Co.’s (GE) media and entertainment arm NBC Universal division, media sources reported on Sunday.

JPMorgan Chase & Co. is close to a deal to buy out its U.K. joint-venture partner Cazenove Group for about GBP 1 billion, or $1.7 billion, according to media reports released on Sunday.

Global copper mining leader Grupo Mexico, S.A.B announced that the U.S. district court has approved the full payment reorganization plan for Asarco LLC, in order to reintegrate the U.S. copper operations of both the companies into one of the world’s most competitive, low-cost copper producers.

Britain’s biggest energy supplier Centrica Plc is planning a �1 billion-plus acquisition spree in North America next year, the Mail reported.

On Friday, the European markets advanced for the third straight session, as companies such as Richemont, Bulgari and KBC Groep reported better-than-estimated earnings and a report showed the eurozone economy emerged from its worst recession since the second world war.

The FTSEurofirst 300 index of pan-European blue chips closed 0.44% higher, while the narrower DJ Stoxx 50 index rose 0.49%. Around Europe, the U.K.’s FTSE 100 index rose 0.38% and Germany’s DAX index added 0.40%, but France’s CAC 40 index closed almost unchanged with a negative bias.

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Posted in Categories: Canada, Eurozone, Japan, Releases, Stocks, UK, USA.

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