5 hrs ago
Global shares mixed as oil stabilizes after US-Iran meeting
Stock markets around the world moved in different directions on Wednesday.
Some markets rose, while others fell.
Oil prices stopped falling and stayed below $100 a barrel.
Donald Trump said United States and Iranian officials had a good meeting at the United Nations.
This made investors more hopeful that the two countries might reach an agreement.
Trump had also warned Iran that the United States could take very severe action if no deal was reached.
Investors were watching Xi Jinping’s visit to Washington and his planned meeting with Trump.
Technology companies in Asia mostly gained after US technology shares performed well.
The Nasdaq reached a record high on Tuesday.
Global markets traded unevenly Wednesday, with European and Asian indexes moving in different directions.
Oil prices stabilized below $100 per barrel after Donald Trump said United States and Iranian officials held a “very good” meeting.
Brent crude rose less than 0.1% to $99.30 per barrel, well above its late-February level of about $72.
US futures were little changed before Xi Jinping’s state visit to Washington and his meeting with Trump.
Technology shares gained in Asia after Wall Street’s Nasdaq closed at a record high, with Samsung Electronics and TSMC among the risers.
- Who
- Investors, Donald Trump, United States and Iranian officials, and Xi Jinping are central to the report.
- What
- Global shares were mixed while oil prices stabilized after Trump said United States and Iranian officials met.
- Where
- Markets across Europe, Asia, and the United States were affected; the United States-Iran meeting took place alongside the United Nations General Assembly in New York.
- When
- The market movements occurred Wednesday; Wall Street’s reported performance was from Tuesday.
- Why
- Oil prices were supported by reported diplomatic progress between the United States and Iran and optimism that Saudi Arabia was restarting a key oil pipeline; markets were also watching the Trump-Xi meeting.
Key facts
- Brent crude
- Rose less than 0.1% to $99.30 per barrel.
- FTSE 100
- Rose 0.2% to 10,729.10 in early European trading.
- Hang Seng
- Fell 1% to 24,834.12.
- Kospi
- Rose 0.9% to 7,080.92.
- S&P 500
- Fell less than 0.1% Tuesday and remained near its all-time high.
- Nasdaq composite
- Rose 0.5% Tuesday and closed at a record high.
- US dollar
- Rose to 157.91 Japanese yen from 157.39 yen.
Quotes
Donald Trump
President of the United States
“Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before, maybe one of the greatest in the Middle East or even the world?”
thehansindia.com
Sources
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