London — Monday’s closing price of European stocks was uneven as traders took in the escalating tensions in the Middle East after strikes by Hezbollah and Israel over the weekend.
The FTSE Mib in Italy ended the day down 0.09%, while the German Dax closed down 0.06%. France’s Cac 40 defied the trend and closed up 0.23%, while Spain’s Ibex 35 fell just 0.03%. Due to a national bank holiday, the U.K. markets were closed on Monday.
It happens at the same time that rising oil prices are being attributed to worries of a larger conflict in the Middle East. Over the course of the weekend, Hezbollah, which is supported by Iran, fired over 320 missiles into Israel, and more than 100 Israeli fighter jets struck sites in Lebanon.
U.S. West Texas Intermediate crude was 1.1% higher at $75.65 a barrel, while Brent crude increased by 1.04% to trade at roughly $79.84.
Source (CNBC)
