Wall Street futures, hit by still rising oil prices and bracing for a possible rate hike this week, signalled a slow start for North American stock markets early Monday, while European trading reflected Germany’s fallen DAX index, affected by the weekend’s uncertain elections.

In Southeast Asian, shares closed mostly higher, though exchanges in Japan, Hong Kong and South Korea were closed for holidays and reopen tomorrow. The Stock Exchange of Thailand index added 0.72 points, or 0.1% , to 708.98.

In Indian, the benchmark index again closed at a record high, led by strong gains in blue chips like ITC and ICICI Bank. The Bombay Stock Exchange’s 30-stock Sensitive Index, or Sensex, ended up 63.88 points, or 0.8%, at 8,444.84 points.

The Canadian dollar opened at 84.73 U.S. cents, down 0.11 of a cent. On Friday, the loonie had risen 0.44 of a cent.

The U.S. Federal Reserve’s open market committee meets tomorrow to decide on interest rates. Analysts are divided on which whether rates will increase.

Crude oil futures rebounded Monday from the lowest prices since early August, amid concerns that a storm gaining strength off the Bahamas could turn unexpectedly, like hurricane Katrina, and hit U.S. oil-producing facilities along the Gulf of Mexico coast.

Benchmark light sweet crude on the New York Mercantile Exchange rose as much as 68 U.S. cents to US$63.68 a barrel for front-month October delivery mid-morning in Singapore.

KCP Income Fund, a major manufacturer of retailer-brand cleaners and other consumer products, announced it is paying US$73 million for APG Group of Elkhart, Ind., a contract manufacturer of household, personal care and drug products.

Nike Inc. reported Monday that first-quarter profit beat Wall Street expectations, rising 32% on sales gains in all regions and products. Quarterly earnings rose to US$432.3 million, or $1.61 per share, for the three months ended Aug. 31 from $326.8 million, or $1.21 per share, a year earlier.

The Canadian Auto Workers reported progress Sunday in contract talks with DaimlerChrysler, sparking optimism from the union that a strike by 11,400 Ontario workers can be avoided before a deadline midnight tomorrow.

Toronto stocks closed up Friday, due largely to the strength of the materials sector. The market, though, retreated off session highs that saw the senior exchange charge over the 11,000 plateau, territory it hasn’t seen in five years.

The S&P/TSX composite index finished up 21.70, or 0.20%, to 10,998.02, after hitting a peak of 11,028.43 in intraday trading.

Volume was heavy in Friday’s session, at 403 million shares.

December delivery gold climbed US$4 to end at US$463.30 an ounce, its highest close in 17 years. The gold sector appreciated 2.80%.

Bema Gold Corp. gained 5 cents, or 1.52%, to $3.35, while Barrick Gold Corp. advanced 96 cents, or 2.88%, to $34.24.

The energy sector gained 0.22% despite a drop in the price of oil. Light crude fell US$1.75 to US$63.00 a barrel as OPEC suggested it would be boosting production and as world demand showed signs of easing.

Nexen Inc. gained 50 cents, or 0.88%, to $57.50. TransCanada Pipeline also gained 50 cents to end 35.36, up 1.43%.

UTS Energy Corp. gained 49 cents, or 9.94%, to $5.42

Telecom giants Rogers Communications and Bell Canada announced they were forming a joint venture to build and manage a national wireless network. Rogers gained 40 cents, or 0.83%, to $48.51, while BCE lifted 12 cents to 32.37, an increase of 0.37%.

The junior S&P/TSX venture exchange finished up 21.33, or 1.05%, to 2,046.52.

In New York, markets were boosted by the drop in the price of crude and the expiration of September futures and options contracts.

The Dow Jones Industrials closed up 83.19 points to 10,641.94, with 23 of 30 components advancing. The S&P 500 ended up 10.18 points at 1,237.91 and the Nasdaq composite gained 14.20 points at 2,160.35.