Global shares mostly gain as investors await Fed rate hike

TOKYO (AP) — Global shares are mostly higher as investors await an interest rate increase by the U.S. Federal Reserve. Benchmarks in France and German slipped while Britain’s advanced. Asian shares finished mostly higher. Japan reported consumer inflation jumped in August to 3%, its highest level since November 1991. Markets are jittery over whether the Fed’s plan to cool the hottest inflation in four decades might be too aggressive. But expectations of the rate hike have already been taken into account, analysts said. On Monday, Wall Street benchmarks rose in a flurry of late buying. The S&P 500 gained 0.7%.