Stories
Global Shares Rise After Wall Street Gains While Oil Prices Fall
- •World shares were mostly higher on Tuesday following positive momentum on Wall Street, where the S&P 500 approached a record close.
- •European indices including Britain's FTSE 100, France's CAC 40, and Germany's DAX all gained 0.8 per cent in early trading.
- •Japan's Nikkei 225 surged past the 70,000 level for the first time since July, rising 1.1 per cent.
- •Oil prices declined more than 1 per cent with Brent crude falling below the USD 100 mark amid easing pressures in the Middle East.
- •US Treasury yields remained near multi-decade highs, with the 10-year yield easing to around 5.27 per cent.
Key Questions Answered
World shares were mostly higher and US futures advanced after shares rose near a record close on Wall Street. Britain's FTSE 100, France's CAC 40, and Germany's DAX all gained 0.8 per cent in early European trading.
Oil prices declined more than 1 per cent as upward pressures eased because larger volumes of oil crossed the Strait of Hormuz and flows through Saudi Arabia's East-West pipeline recovered. Brent crude fell 1.3 per cent to USD 99.07 per barrel, and US benchmark crude lost 1.7 per cent to USD 87.91 per barrel.
The 10-year US Treasury yield eased to around 5.27 per cent after briefly crossing the 5.35 per cent mark at its highest level since 2002. Investors demanded higher returns to hold government bonds as inflationary pressures grew, driven partly by the energy shock from the Iran war.
