Morning Market Movers: Global Markets Still Responding to Friday's House GOP News

Here’s what’s shaking:

Stocks:

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U.S. stock and bond markets are closed for Martin Luther King, Jr. Day, but world markets are still responding positively to news that Congress has agreed to a three-month debt limit increase.

Britain's FTSE 100 was up 0.2 percent to 6,165.52, while Germany's DAX advanced 0.4 percent to 7,730.73. France's CAC-40 gained 0.3 percent to 3,750.76.

Earlier in Asia, markets were more cautious, with Japanese shares hit hard by a rise in the yen. The Nikkei 225 fell 1.5 percent to close at 10,747.74.

South Korea's Kospi dropped 0.1 percent to 1,986.86. Hong Kong's Hang Seng fell 0.1 percent to 23,590.91. Australia's S&P/ASX 200 rose 0.1 percent to 4,777.50.

In mainland China, the Shanghai Composite Index gained 0.5 percent to 2,328.22 while the smaller Shenzhen Composite Index rose 0.7 percent to 942.50.

Oil:

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The price of crude oil slipped closer to $95 a barrel on Monday, with energy investors keeping to the sidelines as U.S. markets were closed for Martin Luther King, Jr. Day.

By early afternoon in Europe, benchmark oil for February delivery was down 24 cents to $95.25 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday.

A rise in stock markets did help limit losses in commodity markets, but sentiment remained fragile.

Concerns linger about the U.S. economy, with lawmakers wrangling over spending cuts and the nation's debt ceiling, which limits the amount of debt that U.S. government can take on. Though Republican lawmakers were expected to accept a temporary increase, a final deal is still not in sight.

Brent crude, used to price international varieties of oil, fell 29 cents to $111.64 per barrel on the ICE Futures exchange in London.

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Featured images courtesy Getty Images.