09/10/2023 – 7:00
European stock markets operate without a single direction this Monday morning, the 9th, as investors assess the geopolitical impacts of the conflict in the Middle East, after the Palestinian militant group Hamas launched a large-scale attack against Israel over the weekend.
At around 6:35 am (Brasília time), the pan-European Stoxx 600 index had a modest increase of 0.18%, at 445.75 points. Only the oil and gas sub-index, however, rose 2.2% as unrest in the Middle East boosted commodity prices.
Fighting between Hamas militants and Israeli forces, which has left hundreds dead, led oil prices to jump more than 4%. The price of natural gas traded in Europe shot up 6.7%, to 40.76 euros per megawatt-hour, according to Dow Jones Newswires.
Uncertainties linked to the Middle East also put pressure on future indexes on the New York stock exchanges in morning business. The Treasury market, in turn, is closed today due to the Columbus Day holiday in the USA.
Last week, Treasury yields reached 16-year highs amid the assessment that US interest rates will remain at high levels for longer, a view that was reinforced by robust data from the country’s labor market.
Back on the European continent, the highlight is Germany’s industrial production, which had a negative performance in August, but not as bad as analysts consulted by FactSet predicted.
At 6:52 am (Brasília time), the London Stock Exchange rose 0.29%, while the Paris Stock Exchange fell 0.26% and the Frankfurt Stock Exchange fell 0.45%. Those in Milan and Madrid fell 0.17% and 0.46%, respectively, but those in Lisbon advanced 1.06%. *With information from Dow Jones Newswires.
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