Asian shares creep higher, oil surges to 3-year peak

SYDNEY: Asian shares nudged higher on Monday as risk sentiment turned for the better, though a surge in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.

In Europe, stocks seemed unfazed by the narrow victory of the Social Democrats in German elections with EUROSTOXX 50 futures up 0.5% and FTSE futures 0.6%.