And the analysts think recent currency moves should also be favourable for the firm's British Sugar business, although they added that they are mindful that, given a decline in the world sugar price, it is possible this simply offsets some underlying downside risk to current sugar forecasts. That helped bank stocks because rising yields mean banks can charge higher interest rates on loans. The trade-weighted index fell to 75.17 from 75.59 in NY.
The two-year swap rate rose 2 basis points to 2.15 percent while the 10-year swaps rose 3 basis points to 3.05 percent. Dow Jones Industrial Average futures jumped 104 points, or 0.5%, to 21,882, while S&P 500 futures gained 11.25 points, or 0.5%, to 2,472.25. The Russell 2000 index of smaller-company stocks added 15 points, or 1.1 percent, to 1,414. "The market has gone back up to where we were in early August before these North Korea fears".
The kiwi traded at 72.45 United States cents as at 5pm in Wellington from 72.66 U.S. cents on Friday in NY and down from 73.21 cents in Wellington at the end of last week.
Brent crude oil, the global benchmark, rose 0.5 per cent to $54.02 a barrel after falling 1.3 per cent on Friday on concerns Hurricane Irma would hit demand. It's caused severe flooding and knocked out power to millions, but the storm weakened shortly before it came ashore. The contract skidded $1.61, or 3.3 percent, to settle at $47.48 a barrel on Friday.
The Dow Jones Industrial Average was on track to close above 22000 for the first time in almost a month, as investors' fears eased about North Korea and Hurricane Irma. Those companies tend to do better when bond yields are falling, as investors see them as an alternative to bonds due to their large dividend payments. In corporate news, investors awaited the debut of Apple Inc.'s (AAPL) new iPhone 8 on Tuesday.
CURRENCIES: The dollar rose to 109.12 yen from 107.79 yen late Friday. The euro dipped to $1.2016 from $1.2038.
Australia's S&P/ASX was up 0.6 per cent, shrugging off a 1.4 per cent fall for the materials sector in response to a fall in commodities prices.
OVERSEAS: Germany's DAX gained 1.4 percent and the French CAC 40 rose 1.2 percent.
Perceived haven assets weakened, with gold shedding $9.55 to $1,336.60 an ounce, the Japanese yen dropped 0.6 per cent to ¥108.50 per dollar while the Swiss franc slid 0.6 per cent against the dollar at SFr0.9498. South Korea's Kospi advanced 0.7 percent and Hong Kong's Hang Seng added 1 percent.