European markets on the rise, oil rally continues

European stock markets recorded gains on Friday, but concerns over the geopolitical situation remain at the forefront.

The Stoxx Europe 600 rose 0.19% in morning trading, the German Dax increased by 0.44%, while London’s Ftse 100 gained 0.31%. Finally, Italy’s Ftse Mib saw an increase of 0.50%.

On the seventh day of the conflict, attention remains mainly on oil and gas, which continue to dominate energy markets. Crude oil surpassed $86 per barrel, reaching a new high.

Iranian foreign minister Abbas Araghchi stated on Thursday that his country “is not asking for a ceasefire” with the United States and Israel, driving up energy commodity prices.

Natural gas, meanwhile, rose by 1.17%, worrying economists about the global future and potential price increases.

Gold continues its rally as well, trading above $5,098 per ounce.

At Piazza Affari, Amplifon and Leonardo led the gains with +4.27% and +3.10%, respectively.

Benedetta Zimone