INTERNEWSTIMES.COM – European stock markets opened higher on Friday, but gains were modest as investors remained wary of escalating tensions in the Middle East and awaited the release of key US economic data.
The pan-European Stoxx 600 index rose 0.18% by 9:40 a.m. London time, with most sectors and major bourses trading in positive territory.
The oil and gas sector saw a boost, climbing 0.82%, driven by concerns over potential supply constraints after President Biden suggested that Israel could target Iran’s oil industry. However, media stocks fell 0.54%.
Danish shipping giant Moller-Maersk saw its shares drop over 8% before recovering slightly. The decline came after a tentative agreement was reached between U.S. dockworkers and the United States Maritime Alliance, ending a three-day strike and easing pressure on the sector.
Investors are now focused on the release of the September payrolls report, scheduled for Friday. The report is expected to provide insights into the health of the US labor market and could influence future monetary policy decisions.
In Asia-Pacific markets, trading was mixed following losses on Wall Street Thursday. Concerns over Middle East tensions kept investors on edge.
The European markets are expected to remain volatile in the coming days as investors navigate geopolitical uncertainty and key economic data releases. (Red)
