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> Economy

European stock markets are up despite the escalation between Israel and Iran

The conflict, so far, does not appear to be expanding more widely and investors assume that Iran will not threaten to close the Strait of Hormuz

Newsroom June 16 04:32

 

Europe opened in the green as investors turned their attention to the ongoing conflict in the Middle East ahead of a series of central bank meetings this week, including the Federal Reserve and the G7 meeting in Canada.

The regional Stoxx 600 index was up 0.15% at the open and is currently up 0.16% . at 545.80m points.

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Oil: Brent heading toward $110 due to Hormuz, with the Fed, BOJ, and fears of a new energy shock in focus

The British FTSE 100 is up 0.23%, the German DAX is up 0.29%, the French CAC 40 is up 0.44%, the Italian FTSE MIB is up 0.61% and the Spanish IBEX 35 is up 0.75%.

Markets are currently recovering from Friday’s negative trading as Israel and Iran launched airstrikes against each other, stoking fears of a prolonged, deadly conflict.

European oil and gas stocks in the Stoxx 600 rose 1.1 percent amid soaring crude prices.

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