Israel’s Iron Dome anti-missile system intercepts a rocket as seen from Ashkelon, Israel, on October 1, 2024.
Amir Cohen | Reuters
LONDON – European stocks edged higher on Wednesday as investors tried to look beyond escalating tensions in the Middle East and awaited new jobs data from the region.
Pan-European Stoke 600 It opened up 0.35%, with most industries and major exchanges showing a green trend. Oil and gas stocks rose 2.42% on the prospect of supply disruptions in the Middle East, while travel and leisure stocks fell 0.25% as airlines rerouted flights out of the country.
On the equity front, defense companies advanced on rising conflict risks, with Saab and BAE Systems increased by 2.2%, while Thales and Rheinmetall Both rose more than 1.3%.
Meanwhile, UK sports retailer shares JD Sports The 3.5% decline came despite the company reporting first-half revenue and profit that beat expectations. it is as The income is NikeThe products it sells performed poorly on Tuesday.
The cautious gains come after a rocky start to the trading month on Wall Street. Nasdaq Index Shedding 1.5% and S&P 500 Index fell 0.9%, after Iran Launch a ballistic missile attack Israel In retaliation for his recent killing Hezbollah leader Hassan Nasrallah and an iranian commander lebanon.
The attack came on the heels of IsraelGround troops are deployed to southern Lebanon to escalate an offensive against the Iran-backed militant group Hezbollah.
oil price spiked After the attack, at the same time Chicago Board Options Exchange Volatility Index (VIX)Also known as Wall Street’s fear index, the day’s highest point exceeded 20 points.
US futures remained at lower levels in overnight trading, while Asia Pacific The market was mixed.
Markets in mainland China were closed on Wednesday for the Golden Week holiday and will remain closed for the rest of the week. However, Hong Kong’s Hang Seng Index Shares rose more than 6%, signaling greater optimism about Beijing’s stimulus policies.
Back in Europe, investors are awaiting fresh unemployment data from the region as well as data on UK house prices.
—CNBC’s Dan Mangan contributed to this report.
