Global Shares Trade Mixed Wednesday    07/22 04:55

   Global shares were trading mixed Wednesday following a rally on Wall Street, 
despite concerns about higher oil prices and inflation.

   TOKYO (AP) -- Global shares were trading mixed Wednesday following a rally 
on Wall Street, despite concerns about higher oil prices and inflation.

   France's CAC 40 edged up 0.6% in early trading to 8,410.68, while the German 
DAX rose 0.4% to 25,106.51. Britain's FTSE 100 gained 0.8% to 10,666.51. U.S. 
shares were set to drift lower with Dow futures down 0.2% at 52,366.00. S&P 500 
futures lost 0.4% to 7,518.75.

   Japan's benchmark Nikkei 225 fell 0.2% to finish at 66,115.60, after the 
government reported that both imports and exports rose last month from a year 
earlier, as the weakening yen raised the value of both when converted from 
dollars to yen.

   Australia's S&P/ASX 200 added 0.3% to 8,823.00. South Korea's Kospi rose 
0.7% to 6,797.70. The Hang Seng dipped nearly 1.0% to 24,892.66, while the 
Shanghai Composite was little changed, adding less than 0.1% to 3,867.03.

   More climbs for oil prices have come after the continued attacks between the 
United States and Iran. Benchmark U.S. crude added $2.90 to $87.24 a barrel. 
Brent crude, the international standard, rose $2.91 to $93.92 a barrel.

   "Oil makes the situation more difficult because Japan imports most of its 
energy. A weaker yen and higher crude prices arrive together like two waves 
hitting the same sea wall," said analyst Stephen Innes, a former trader.

   In currency trading, the U.S. dollar inched down to 163.11 Japanese yen from 
163.14 yen. The euro cost $1.1409, up from $1.1404.

   Rising oil prices are again pushing inflation higher, just as increases for 
prices were slowing more than economists expected. That in turn could push the 
Federal Reserve and other central banks to raise interest rates, which would 
slow economies and undercut prices for stocks and other investments.