Overnight: US stocks climbed, as lawmakers appeared to be inching towards an agreement to raise the debt ceiling, 3 days before borrowing authority is set to...

Bell Potter

Overnight: US stocks climbed, as lawmakers appeared to be inching towards an agreement to raise the debt ceiling, 3 days before borrowing authority is set to expire. The dollar fell against the euro. Gold futures rose sharply, after US politicians failed over the weekend to reach a deal, stirring some safe-haven interest in the yellow metal. Oil futures tipped a bit higher to reclaim $102-a-barrel level The U.K.'s FTSE advanced on Monday as heavyweight oil firms climbed, partly offsetting worries about the debt impasse in the US. But banks added pressure on the political worries and after a downbeat broker note on the sector. The political wrangling over the debt ceiling and budget in the U.S. kept investors in Europe on edge, with the benchmark stock index struggling for direction. Weak Chinese economic data further added to the nervous sentiment. London BHP up 0.08%. Rio up 0.15%.


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