Oil prices fell along with stock prices on European and Asian stock exchanges on Monday, driven by concerns about the intensification of the wave of Covid-19 in China.
U.S. stock prices rose after Tesla Motors CEO Elon Musk signed a $ 44 billion deal to buy the Twitter microblogging platform.
Crude oil prices fell more than 3% as concerns over China’s Covid-19 blockade increased. US dollar-denominated oil prices also suffered from the strengthening dollar.
The Paris stock index fell 2.0% after President Emmanuel Macron won the second round of the French presidential election on Sunday. He now he must unite the deeply divided nation ahead of parliamentary elections in which he could lose control of parliament.
Shares on Wall Street were down for most of the day, but closed the trading session higher after the announcement of Twitter’s sale to Musk. After this announcement, the share price of “Twitter” rose 5.7%.
Investors are cautious ahead of upcoming earnings reports from tech giants Apple, Amazon and Microsoft.
On Monday the Dow Jones Industrial Average was up 0.7% to 34,049.46, the Standard & Poor’s 500 was up 0.6% to 4,296.12, and the Nasdaq Composite was up 1.3% to 13,004.85 points.
London’s FTSE 100 was down 1.9% to 7,380.54 on Monday, Frankfurt’s DAX 30 was down 1.5% to 13,924.17 and Paris’s CAC 40 was down 2.0% to 6.449, 0.38 points.
In e-commerce on the New York Stock Exchange, the price of WTI crude fell 3.5% to $ 98.54 a barrel on Monday. The price of “Brent” crude on the London Stock Exchange fell 4.1% to $ 102.32 a barrel.
The euro fell from $ 1.0790 to $ 1.0716 per euro on Monday, the British pound fell from $ 1.2839 to $ 1.2744 per pound, and the dollar fell from 128.50 against the Japanese yen at 128.15 yen per dollar. The euro rose against the British pound from 84.04 to 84.05 pence per euro.
