- Postecoglou urges inconsistent Spurs to change perceptions
- UN force says 'widespread destruction' in south Lebanon
- New Zealand on America's Cup cusp after double triumph
- New Zealand's Ravindra makes father proud with 'special' Test ton
- Stock markets mixed as investors weigh earnings, China GDP
- Ten Hag slams 'fairy tales and lies' as Man Utd boss comes out fighting
- Hamas mourns Sinwar, vows no hostage release until war ends
- Forest boss Nuno hit with three-game ban
- 'The killings continue': Sinwar death brings no respite for Gazans
- Gaza 'hell on Earth' for one million children: UN
- Maresca 'very happy' with start of Chelsea career
- New Zealand extends America's Cup lead on Britain
- England boss Tuchel deserves unconditional support: Guardiola
- P&G profits dip, says China recovery will take time
- India fight back after Ravindra ton cements New Zealand lead
- US regulator probes Tesla's self-driving mode after crashes
- Four-month-old baby dies as migrant boat sinks off France
- Kenya parliament backs Ruto's nominated new deputy
- Israel strikes Gaza after killing Hamas chief Sinwar
- Mbappe 'seems unaffected' by rape investigation reports: Ancelotti
- N Korea sending 'large-scale' troop deployment to Russia, Seoul spy agency says
- Global stock markets rise on China hopes
- Lebanon slams 'blatant interference' over remarks attributed to Iran official
- Odegaard nearing Arsenal return, says Arteta
- Women priests secretly ordained in the shadow of the Vatican
- Stellantis workers march in Italy over production slump
- Win over England a 'relief' but doesn't fix Pakistan woes, says Masood
- Howe says he was not contacted by FA over England job
- Biden in Berlin vows no let-up on support for Ukraine
- Meta unveils AI tie-up with horror movie producers
- King Charles arrives in Australia for landmark tour
- Stokes sorry for frustration over dropped catches in England loss
- Baby dies, 65 rescued as migrant boat sinks off France
- Slot warns against snap judgements as Liverpool brace for tough week
- Angry Macron blasts media over reporting of Israel comments
- Ukraine's army brigades battle to make enlisting 'sexy'
- India start steadily after Ravindra ton steers New Zealand to lead of 356
- Ravindra's 134 puts New Zealand in command of India Test
- Kenya's Ruto nominates new deputy after impeachment
- Israel conducts raids on Gaza after killing Hamas chief Sinwar
- Asian markets rise as China economy tops forecasts, gold hits record
- Pakistan crush England in second Test to set up series decider
- Harris, Trump to rally voters in key state on same day
- US sees new chance to end Gaza war with Sinwar killing
- From Siberia to the Sahara: Huskies conquer Mauritania
- Ravindra hits ton to extend New Zealand lead to 299 in India Test
- Marc Marquez quickest in Australian MotoGP practice
- 'Like Texas': Spain's arid south draws Western film shoots
- With record production, Moldova plum farmers hail EU integration
- Nigerians sacrifice cars as cost of living crisis worsens
RYCEF | 0.68% | 7.4 | $ | |
CMSD | 0.52% | 25.151 | $ | |
NGG | 0% | 67.19 | $ | |
BTI | -2.66% | 34.455 | $ | |
GSK | -1.41% | 38.42 | $ | |
RIO | 0.29% | 65.279 | $ | |
VOD | -0.05% | 9.725 | $ | |
RELX | -1.63% | 47.81 | $ | |
AZN | -0.44% | 77.675 | $ | |
BCE | 0.57% | 33.681 | $ | |
BCC | 0.04% | 142.26 | $ | |
SCS | -1.19% | 13.055 | $ | |
JRI | 0.15% | 13.17 | $ | |
BP | -0.64% | 31.12 | $ | |
RBGPF | 0.69% | 60.92 | $ | |
CMSC | 0.04% | 24.8 | $ |
Oil prices fall as tensions ease, stocks advance
Oil prices fell Tuesday on easing geopolitical concerns surrounding major crude producers Iran and Russia while stock markets mostly moved higher.
French President Emmanuel Macron said he had convinced Russia's Vladimir Putin not to escalate the crisis around Ukraine, ahead of talks in Kyiv aimed at defusing fears Moscow could invade.
At the same time, talks to revive a deal with Iran on its contested nuclear programme were set to resume Tuesday after Washington and Tehran signalled their willingness to clinch an agreement as soon as possible.
Edward Moya, analyst at trading group Oanda, said signs of progress in US-Iran nuclear talks -- which could see Tehran sell oil internationally again -- would likely not have much long-term impact on the crude price rally towards $100 per barrel.
"Energy traders locked in some profits over optimism that the US and Iran might be able to salvage a nuclear deal," he said.
"The oil market still remains heavily in deficit and whatever weakness happens to prices will likely be short-lived."
Surging oil prices -- Brent crude hit the highest level for more than seven years at $94 per barrel on Monday -- saw BP swing back into a big profit last year, the British energy giant announced.
The expected turnaround -- after huge losses in 2020 as the pandemic slammed oil prices -- saw BP's share price rise only modestly before turning lower.
The price of aluminium surged to the highest level in 14 years of $3,236 per tonne on stretched supplies after China placed the city of Baise -- a key producer of the base metal -- in Covid lockdown.
- Chips race -
In Asia, SoftBank announced that the $40-billion sale of chip powerhouse Arm to Nvidia had collapsed because of "significant regulatory challenges" over competition concerns.
The Japanese telecoms firm-turned-investment giant also reported net profit of $251 million in the third quarter.
In Europe, the EU unveiled a 43-billion-euro plan to quadruple the supply of semiconductors in the region by 2030, hoping to limit the bloc's dependence on Asia for a key component used in electric cars and smartphones.
Shares in leading European chipmaker STMicroelectronics rose, but those in Infineon fell.
On Wall Street, share prices were higher as investors await key US inflation data Thursday tipped to show more painful price rises in January after a four-decade high in December.
But sentiment was more muted in Europe, where stock markets in Frankfurt and Paris ended the day marginally higher, while London dipped.
Investors are bracing for central banks to raise interest rates to tame inflation, a move that could weigh down on the global economic recovery.
But Michael Hewson of CMC Markets said that "by and large markets and investors are getting used to the idea of higher rates from central banks."
- Key figures around 1630 GMT -
New York - Dow: UP 0.6 percent at 35,316.29 points
EURO STOXX 50: UP 0.2 percent at 4,127.09
London - FTSE 100: DOWN less than 0.1 percent at 7,567.07 (close)
Frankfurt - DAX: UP 0.2 percent at 15,241.61 (close)
Paris - CAC 40: UP 0.3 percent at 7,028.41 (close)
Tokyo - Nikkei 225: UP 0.1 percent at 27,284.52 (close)
Hong Kong - Hang Seng Index: DOWN 1.0 percent at 24,329.49 (close)
Shanghai - Composite: UP 0.7 percent at 3,452.63 (close)
Euro/dollar: DOWN at $1.1418 from $1.1440 late Monday
Pound/dollar: UP at $1.3553 from $1.3532
Euro/pound: DOWN at 84.26 pence from 84.51 pence
Dollar/yen: UP at 115.61 from 115.10 yen
Brent North Sea crude: DOWN 2.6 percent at $90.32 per barrel
West Texas Intermediate: DOWN 2.7 percent at $88.88 per barrel
burs-rl/spm
F.Müller--BTB