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European shares show slight rise despite Iran-Israel crisis, while oil stays high
European shares show slight rise despite Iran-Israel crisis, while oil stays high

Yahoo

time11 hours ago

  • Business
  • Yahoo

European shares show slight rise despite Iran-Israel crisis, while oil stays high

European shares showed a slight rise in early trading and oil prices remained high on Wednesday as investors tracked the escalation of the conflict in the Middle East. US benchmark crude oil was down around 0.43% at $74.52 per barrel, while Brent, the international standard, slipped around 0.52% to $76.05, although both WTI and Brent remain high on the month. Crude prices rose more than 4% on Tuesday after US President Donald Trump left a Group of Seven summit in Canada early and warned that people in Iran's capital should evacuate immediately. Within about eight hours, Trump went from suggesting that a nuclear deal with Iran remained 'achievable' to urging Tehran's 9.5 million residents to flee for their lives. Iran and Israel continued to exchange airstrikes on Wednesday. The fighting has driven prices for crude oil and gasoline higher because Iran is a major oil exporter and it sits on the narrow Strait of Hormuz, through which much of the world's crude passes. Past conflicts in the area have caused spikes in oil prices, though they've historically proven brief after showing that they did not disrupt the flow of oil. European stocks, meanwhile, showed faintly positive trends in early trading. The DAX 40 was up around 0.11% at 23,461.41, the CAC 40 rose 0.29% to 7,706.08, the STOXX 600 was broadly flat, while the FTSE 100 rose 0.23% to 8,854.79. Related Israel-Iran crisis: How vital is the Strait of Hormuz for oil market? Trump demands Iran's 'unconditional surrender' again as conflict with Israel continues Earlier in the day, Asian stock markets showed a varied picture. Tokyo's Nikkei 225 jumped 0.78% to 38,837.48. Hong Kong's Hang Seng dropped 1.17% to 23,698.65 while the Shanghai Composite Index rose 0.3% to 3,388.77. The Kospi in Seoul gained 0.54% to 2,966.20 while Australia's S&P/ASX 200 shed 0.1% to 8,533.10. On Tuesday, US stocks slumped under the weight of higher oil prices and weaker than expected retail sales in May. Trump raised the temperature on Israel's fight with Iran by calling for 'Unconditional surrender!' on his social media platform and saying, 'We are not going to' kill Iran's leader, 'at least for now'. The S&P 500 fell 0.84% to 5,982.72 and the Dow Jones Industrial Average dropped 0.7% to 42,215.80. The Nasdaq composite fell 0.91% to 19,521.09. On early Wednesday morning in the US, S&P futures rose 0.11% to 5,991.50, Dow Jones futures increased less than 1% to 42,245.00, while Nasdaq futures advanced by 0.13% to 21,759.00. The markets will be looking to the Federal Reserve as it makes a decision on its interest rates today. The nearly unanimous expectation among traders and economists is that the Fed will make no move. In currency trading early on Wednesday, the US dollar fell 0.2% to 144.94 Japanese yen. The euro edged 0.18% higher, to $1.1502. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

What happened to Air India flight 171?
What happened to Air India flight 171?

The National

time20 hours ago

  • Politics
  • The National

What happened to Air India flight 171?

Iran and Israel must start talking to each other In reference to the report Huge explosions heard as major Iranian rocket attack hits Israel (June 19): The new war between Israel and Iran is most unfortunate. It will destabilise the entire Middle East. The world is already besieged by wars in Ukraine, Gaza and Sudan. All wars are horrible. Innocent people die. Economies come to a standstill. Lives are disrupted. Jobs disappear. Common people pay the price of wars, initiated by their leaders. Iran may not cease its nuclear programme by threats and bombings. The isolation of Iran is likely to be counter-productive. Too many nations have lethal weapons that can destroy our planet. We have to be very circumspect in resolving issues. War is just not an option any more to resolve matters. So can Iran and Israel just talk to each other, instead of fighting? This is the appeal of a common man. Rajendra Aneja, Mumbai, India What explains the Air India tragedy? With regard to the report Funerals begin for 279 killed in Air India crash (June 15):Last week's crash of Air India flight 171 was utterly heartbreaking. This is undoubtedly one of the worst aviation disasters in recent times. The aircraft, which was relatively young – less than 12 years old – and considered to be one of the reliable models in service, now comes under scrutiny. It is premature however to place blame without the full facts. The investigation must be conducted thoroughly to uncover the real causes behind this tragedy and to put an end to all the speculation of what could have gone wrong. Let us hope that the investigation brings clarity, justice, and measures to prevent such mishaps in the future. K Ragavan, Bengaluru, India Crucial to heed fire alarms With regard to John Dennehy and Greg Tanner's report Dubai Marina fire: Community steps up to help those forced to flee (June 15): I hope everyone was safe and residents of the tower didn't lose too many important belongings. As an aside to the fire in this particular apartment, I wonder if perhaps some people no longer react to fire alarms with the urgency they call for, since in many towers they go off every other week as a part of a fire drill. Besides the problem of fire alarms sometimes not going off, people can't really know for sure if it's a real emergency or not unless they step out of their apartments to check.

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