Global shares up amid jitters over US stimulus, China trade

Gold rose to a new record after a deadly explosion in Beirut.Investors are watching the stalemate among U.S. legislators over employment benefits for millions of Americans thrown out of work by the coronavirus pandemic and spending to shore up anemic economic growth.

In early trading, the FTSE 100 in London gained 1% to 6,093.20 and Frankfurt's DAX advanced 0.8% to 12,708.61. The CAC 40 in France added 0.8% to 4,930.04. In Asia, the Shanghai Composite Index gained 0.2% to 3,377.56 while the Nikkei 225 in Tokyo lost 0.3% to 22,514.85. The Hang Seng in Hong Kong rose 0.6% to 25,102.54.India's Sensex was little-changed at 37,691.69. New Zealand retreated while Singapore, Bangkok and Jakarta gained.Investors have been buying gold and silver, usually seen as a store of value if stock prices decline. Forecasters see that as an indicator of rising unease about the global economic outlook.

Legislators in Washington are at odds over a relief package including a replacement for $600 weekly unemployment benefits that expired last week. For now, investors are relying on the Federal Reserve, which said last week it would keep interest rates near zero. At the same time, Fed Chairman Jerome Powell said Congress needs to take action.

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