BBL BHP Group Plc

Global stocks were slightly lower Monday as investors awaited key economic releases and further clarity from central banks later in the week.

The Stoxx Europe 600 was down 0.5% in early trade amid losses in the energy and basic resource sectors.

The pan-European index inched slightly higher last week as investors shrugged off political risks to bet the European Central Bank would further loosen monetary policy at its meeting on Dec. 3.

In Asia, the Shanghai Composite Index was up 0.3%, reversing sharp losses earlier in the session. The index had fallen 5.5% on Friday as a probe into brokerages weighed on November gains.

Japan's Nikkei Stock Average and Australia's S&P/ASX 200 were both down 0.7%.

Wall Street closed early Friday in light trade, with the Dow Industrials losing less than 0.1%.

Investors globally are focused on the divergent policies between U.S. and European central banks.

The Federal Reserve is widely expected to raise benchmark interest rates at its meeting in mid-December for the first time in nine years. The ECB may drive rates further into negative territory, raising the cost for banks of storing cash with the central bank to the point where they will instead opt to put it to work in the riskier private sector, boosting the European economy.

"It is extremely rare that the two most important central banks are moving in opposite directions," Han de Jong, chief economist at ABN Amro, wrote in a note. Given that the moves have been well telegraphed, "we are assuming financial markets will respond calmly, but there is a risk of rising volatility," he said.

On Friday, the WSJ Dollar Index, which tracks the dollar's value against 16 currencies, hit a 13-year high.

By Monday, the euro was down slightly against the dollar at $1.0588, while the dollar was up against the yen at ¥ 122.8190.

In commodities, gold was up 0.4% at $1,056 an ounce after hitting a six-year low in Asia on the prospect of higher U.S. interest rates and a stronger dollar.

Among blue-chip stocks, shares in BHP Billiton Ltd. were down 4% amid worries about the impact of the massive tailings-dam failure in Brazil earlier this month. Glencore was also down 1.7% amid a broader fall in basic resources stocks.

Write to Riva Gold at riva.gold@wsj.com

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(END) Dow Jones Newswires

November 30, 2015 04:25 ET (09:25 GMT)

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