The main European stock markets opened slightly higher today following a decline of over 1% the previous day, as they remain vigilant over the Middle East conflict. A volatile day is anticipated due to the quadruple witching of derivatives contracts.
Around 09:00 in Lisbon, the EuroStoxx 600 was up 0.56% at 538.87 points.
The stock exchanges in London, Paris, and Frankfurt rose by 0.38%, 0.80%, and 0.91%, respectively, while those in Madrid and Milan increased by 0.82% and 0.88%.
The Lisbon stock exchange maintained its opening trend, and at 09:00, the main index PSI advanced 0.58% to 7,435.42 points, following a new high since May 6, 2014, of 7,545.86 points recorded on June 16.
Investors are concerned about the potential for U.S. intervention in the week-long conflict between Israel and Iran.
Meanwhile, today the European Commission is set to publish the preliminary June reading of the eurozone’s consumer confidence index, which is expected to have improved in line with May’s performance, although still at historically low levels.
In Asia, Tokyo’s main stock index, the Nikkei, fell 0.22% amid growing uncertainty over the Middle East conflict between Israel and Iran and a possible U.S. intervention. Shanghai’s benchmark index fell 0.07%, while Shenzhen’s dropped 0.47%, and the Hang Seng index rose 1.02% shortly before closing.
Wall Street was closed on Thursday due to the national holiday Juneteenth, celebrating the emancipation of the country’s last enslaved people.
Meanwhile, New York futures indicate declines of 0.29% for the Dow Jones Industrials, 0.26% for the S&P 500, and 0.22% for the Nasdaq.
In commodities, gold prices are falling while oil prices are rising.
Gold per troy ounce, a safe-haven asset, decreased to $3,352.16, down from $3,371.15 on Thursday and $3,432.34 on June 13, a new historic high.
Brent crude, the European oil benchmark for August delivery, is rising to $78.85, up from $76.70 on Thursday, driven by fears of a disruption in Middle Eastern oil supply due to the war between Israel and Iran.
The West Texas Intermediate (WTI) for August delivery, the U.S. benchmark, is also up, trading at $73.50 per barrel ahead of the official market opening.
Yields on the 10-year German bond, considered the safest in Europe, fell to 2.494% from 2.520% in the previous session.
The euro rose to $1.1515 in the Frankfurt currency market, up from $1.1457 on Thursday and $1.1584 on June 18, the highest since November 9, 2021.
