European stock prices fell on Monday, but US stocks were unchanged as it was a holiday in the US and the stock exchanges were closed. World oil prices continued to rise.
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“European stock markets struggled to gain ground today (…) the initially positive effect of China’s economic stimulus on Asian markets is beginning to wear off,” said Michael Hewson, market analyst at CMC Markets.
Oil prices continued to rise near this year’s highs on the prospect of Saudi Arabia and Russia extending curbs on crude output. The price of “Brent” crude oil on the London Stock Exchange temporarily reached 89 US dollars per barrel.
Concerns over crude supply have pushed oil prices higher, raising the possibility that prices could top $90 a barrel if Chinese demand picks up in the second half, creating further inflationary risks, Hewson said.
US stock indexes “Dow Jones Industrial Average”, “Standard & Poor’s 500” and “Nasdaq Composite” were unchanged on Monday, as the US stock exchanges were closed for the holiday.
London’s FTSE 100 fell 0.2% to 7,279.51 on Monday, Frankfurt’s DAX fell 0.1% to 15,284.85 and Paris’ CAC 40 fell 0.2% to 7,279. 51 point.
WTI crude oil rose 0.4% to $85.90 a barrel in electronic trading on the New York Stock Exchange on Monday. “Brent” crude oil price on the London Stock Exchange increased by 0.4% to 88.89 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF), the price of natural gas fell by 5.7% to 33.57 euros per megawatt hour on Monday.
The euro rose against the US dollar on Monday from $1.0777 to $1.0790 per euro, the British pound against the US dollar rose from $1.2590 to $1.2621 per pound and the US dollar against the Japanese yen rose from 146.25 to 146.45 yen per dollar. The euro fell against the British pound from 85.58 to 85.50 pence per euro.
2023-09-05 04:01:25
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