Most European stocks reached new highs - Tuesday Review, May 18

Most European stocks reached new highs - Tuesday Review, May 18

Investors seem to have put aside fears of rising inflation

The US

Wall Street closed in the red, mainly dragged by fears that an Iranian nuclear deal could boost global oil supplies. USA30 fell 0.78%, while USA500 lost 0.89%. TECH100 traded 0.57% lower.

Crude oil traded 1.1% higher at $67 per barrel.

Gold rose 0.2% reaching $1,870.60 an ounce.

Asia and Australia

Japan225 jumped 2.14% after economic data revealed that the country’s GDP contracted lower-than-expected.

HongKong45 rose 1.45%.

Down under, Australia200 edged up 0.60% after the Reserve Bank released the minutes from its latest meeting.

Europe

Stocks rose, high on optimism that several countries are easing economic restrictions. Moreover, the dropping unemployment rate in the UK, and earnings reports boosted investor sentiment.

Germany30 traded 0.6% higher, reaching an all-time high, while France40 climbed to a 52-week high after gaining 0.6%. UK100 traded 0.7% higher.

Europe50 edged up 0.7% to an all-time high.

Brent oil traded at $70.20 a barrel after it went up 1.1%. It is the first time since early March when it tops the $70 mark.

EUR/USD went up 0.4%, trading at 1.2199.

Sources: investing.com, reuters.com

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