London Stocks Rise as Brent Oil Dips Below 100 Dollars
· Business · The Independent, Bloomberg
London equities advanced on Tuesday, driven by falling oil prices, a stabilizing bond market, and positive momentum on Wall Street. The FTSE 100 index rose 43.75 points to close at 10,541.69, while the FTSE 250 gained 91.58 points to reach 24,215.33. Brent crude futures dropped below 100 dollars a barrel to trade at 98.37 dollars, easing investor anxieties over persistent inflationary pressures. Analysts attributed the oil price drop to reports that Saudi-backed Yemeni forces had recaptured the Red Sea port town of Mocha and secured the Bab el-Mandeb Strait. Meanwhile, US markets also climbed, with the S&P 500 touching a new all-time high.
Why it matters
Lower global crude prices relieve immediate inflationary pressures on central banks and consumer goods markets across Europe and emerging economies.
Read the original report — The Independent
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