Global stock prices rose on Tuesday, but oil prices fell a day after they rose on fears of a possible escalation in the war between Israel and the Gaza Strip’s Hamas militant group.
Europe’s main stock indexes rose about 2%, following gains in Asian bourses.
Wall Street indexes rose, boosted by falling U.S. bond yields.
“Stock markets are returning to the upside after starting the week in which [investori] was risk averse,” said Craig Erlam, an analyst at online trading firm OANDA.
Market participants, however, continued to be jittery as Israel carried out retaliatory strikes in the Gaza Strip.
Allegations that Iran has helped Hamas plan attacks have fueled fears that Israel could strike major oil producer Iran, escalating the war and driving up oil prices.
Iran has denied the claims, and the United States on Tuesday admitted there was no evidence of direct Iranian involvement.
The Dow Jones Industrial Average rose 0.4% to 33,739.30 on Tuesday, the Standard & Poor’s 500 rose 0.5% to 4,358.24, while the Nasdaq Composite gained 0.6% to 13,562.84 points.
London’s FTSE 100 rose 1.8% to 7,628.21 on Tuesday, Frankfurt’s DAX rose 2.0% to 15,423.52 and Paris’ CAC 40 rose 2.0% to 7,162. 43 points.
WTI crude oil fell 0.5% to $85.97 a barrel in electronic trading on the New York Stock Exchange on Tuesday. “Brent” crude oil price on the London exchange decreased by 0.6% to 87.65 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF), the price of natural gas rose by 12.5% to 49.46 euros per megawatt hour on Tuesday.
The euro rose against the US dollar on Tuesday from $1.0567 to $1.0609 per euro, the British pound against the US dollar rose from $1.2238 to $1.2281 per pound and the US dollar against the Japanese yen rose from 148.51 to 148.68 yen per dollar. The euro fell against the British pound from 86.34 to 86.32 pence per euro.
2023-10-11 04:53:40
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