Market Roundup

Financial stocks were slightly higher, with the Financial Select Sector SPDR exchange-traded fund (XLF) rising about 0.63%. The gainers in the list included American International Group Inc AIG and Fifth Third Bancorp FITB. The US dollar dropped after Christmas holidays. The dollar index (DXY) fell about 0.06%. People's Bank of China hiked its key rates. Against the dollar, the euro gained around 0.1601%. Against the yen, the U.S. dollar gained about 0.0362% European stock markets dropped, with auto stocks leading the decline after rate hike from China. China raised its lending and deposit rates on Saturday. The Stoxx Europe 600 dropped 2.25 points or 0.80%. Markets in London will remain closed till Wednesday. Shares of A-Power Energy Generation Systems Ltd APWR gained about 12% after the company signed an engineering, procurement, and construction (EPC) contract. APWR signed a contract with Huolinhe Coal for a 4x200 megawatt micro grid project. APWR is expecting engineering on the project to begin in March. Read more from Benzinga's Markets.