European stock markets surged at the opening bell as fears of conflict in the Middle East diminished.
Concurrently, a sharp decline in oil prices has alleviated investor worries about potential inflationary pressures that could have sustained higher interest rates.
The FTSE 100 index experienced a 1.2% increase, reaching 7,986.32 points following a 1.6% drop in Brent crude oil prices to below $86 a barrel.
In the eurozone, the Paris Cac 40 index rose by 0.6% to 8,068.48 points, and Frankfurt’s Dax increased by 0.7% to 17,872.91.
Most Asian markets, except for Shanghai, showed gains. The Hang Seng index in Hong Kong led the advances in the region, climbing 1.8% to 16,516.63.
Tokyo’s Nikkei 225 grew by 1% to 37,438.61, and the yen continued to weaken. South Korea’s Kospi index rose by 1.3% to 2,626.55.
Australia’s S&P/ASX 200 also saw a rise, up by 0.9% to 7,638.30.
The Shanghai Composite index fell by 0.4% to 3,051.76 after the People’s Bank of China decided to maintain its 1-year and 5-year loan prime rates.
