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Gulf Today Report
European shares declined on Monday due to worries of risk surrounding higher inflation that has affected hope for a.
The pan-European STOXX 600 index was down 0.7% by 08:10 GMT. Britain's FTSE 100 dropped 0.4%.
Europe will decide whether to extend the suspension of its rules limiting budget deficits and debt, known as the Stability and Growth Pact (SGP), in coming weeks, the Commissioner for Economy Paolo Gentiloni said.
Asian shares mixed on Monday on hope for economic recovery due to the rollout of the global vaccine.
Benchmarks rose in Japan but fell in South Korea, Australia and China.
Investors remain are keeping an eye on stimulus fixing the global economies hit by COVID-19.
But the US $1.9 trillion economic package proposed by President Joe Biden also heralds hope for export-reliant regional economies.
Japan's benchmark Nikkei 225 gained 0.6% to 30,203.61. South Korea's Kospi dipped 0.8% to 3,082.45. Australia's S&P/ASX 200 edged down 0.2% to 6,780.90. Hong Kong's Hang Seng fell 0.5% to 30,479.73, while the Shanghai Composite dropped 1.0% to 3,658.59.
Japan began administering vaccines for COVID-19 last week. It was the last of the Group of Seven industrial nations to get started.
Vaccination drives are set to start soon in other Asian nations, such as Malaysia, Vietnam and the Philippines.
The pan-European STOXX 600 gained 0.5%, building on a 5% rally this week as investors bought into utilities as well as travel-related stocks. Asian shares rose on Wednesday after the announcement of a COVID-19 vaccine that is more than 90% effective.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.06% to 609.41, which is near its January 2018 high of 617.12. The pan-European STOXX 600 index fell 0.6%, taking some shine off gains of more than 13% this month.
The pan-European STOXX 600 fell 0.3% after gaining at the beginning of the week. In the last two weeks, the index has advanced by 12%. MSCI's broadest index of Asian shares outside Japan edged up 0.1%, reversing earlier losses. For the week it rose to about 0.7%.
Market benchmarks in Tokyo, Shanghai and Hong Kong declined. Seoul and Sydney advanced.
Brent crude dropped 70 cents, or 1.1%, to $62.99 a barrel by 04:57 GMT while US West Texas Intermediate (WTI) crude fell 71 cents, or 1.2%, to $59.93 a barrel.
Spot gold eased 0.3 % to $1,717.99 per ounce by 06:33 GMT while US gold futures slipped 0.4% to $1,716.10.