Thursday , February 25 2021

Gold and oil prices jump as US-Iran crisis worries markets – business live – The Guardian, Theguardian.com


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************************** (********************************A stock market indicator board in Tokyo today, where shares slid after Iran fired missiles against US troops based in Iraq. Photograph: Franck Robichon / EPA************************************Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Investors are dashing for cover today as tensions in the Middle East escalate – rattling markets and sending asset prices swinging wildly. Gold hit a seven-year high, and oil spiked back over $ per barrel, after (Iran) ****************************************** (launched a missile attack on two US military bases in Iraq.) ****************************************The attack, which began at 1. am local time on Wednesday, is Tehran’s first retaliation to the death of general Qassem Soleimani in a US drone attack last week.More than a dozen missiles were fired, which Iranian foreign minister, Javad Zarif, described as “proportionate measures in self-defense”. No casualties have been reported yet, but the situation is still unclear.The Islamic Revolutionary Guard Corps (IRGC) declared: (******************************************

(********************************“The brave soldiers of IRGC’s aerospace unit have launched a successful attack with tens of ballistic missiles on the al-Asad military base in the name of martyr General Qassem Suleimani. ” (**********************************************though Donald Trump swiftly tweeted that “all is well” , the markets fear further escalation between the two sides. The sad news thata Ukranian passenger jet had crashed leaving Tehran Airportwill also weigh on the aviation sector, although it does not appear linked to the Iranian missile attack.Investors dashed for save-haven assets, driving gold over $ 1, 600 per barrel for the first time sine . Fears of oil supply disruption from the Gulf region sent Brent crude spiking up to $ (******************************************************************************************************************************. ****************************************************************************************************************************, a new four-month high, although prices have subsided a little since. Asia-Pacific equity markets are also spooked, with Japan’s Nikkei down 1.5% and China’s CSI 376 shedding 1.2%. European markets are set to fall, with Germany’s DAX seen down 1%.(****************************************** IGSquawk****************
(@ IGSquawk)(European Opening Calls:) ************************************************ (# FTSE) (-0.) ************************************************************************************************************************************ (%) ********************************************** (# DAX) **************************************** -1. (%) ************************************************** (# CAC) ****************************************** (%) ************************************************** (# AEX) **************************************** (-0.) ************************************************************************************************************************** % (# MIB)************************************************************************************************************* (%) **************************************************** (# IBEX) ****************************************** (%) # STOXX. **************************************************************************************************************** (%) (January 8,******************************************** (************************************************************************ (Nigel Green) , CEO of financial advisory firmdeVere Group (****************************************, says the crisis is worrying investors as they can’t predict the next moves – how will Trump respond to Iran’s retaliation? (******************************************
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“Geopolitical tensions are certainly heightening, and this always creates Uncertainty – something which markets typically loathe as it becomes more difficult to know where things are headed. In other words, they can’t price uncertainty.“In many regards, the US-Iran situation has Now surpassed the US-China trade war as the biggest risk to financial markets. This has been been reflected in the current volatility. ”But Green also advises against panic selling – he recommends staying. diversified, and holding your nerve ….Also coming up today A week after dramatically escaping from Japan, (Carlos Ghosn) is due to hold a press conference in Lebanon. The former auto magnate is expected to argue that he was the victim of a conspiracy by senior managers at Nissan, who set him up with fraud charges to prevent a merger with Renault. Ghosn may also reveal exactly how he managed to flee from Tokyo without being detected. The latest theory is that he enlisted a group of top private security operatives, was concealed a large box and smuggled onto a private jet bound for Istanbul, and then Beirut where he should be safe from extradition back to Japan. (********************************************************* (The agenda) (********************************************** 7am GMT: German factory orders for November (************************************************************** 1pm GMT: Carlos Ghosn press conference in Beirut (**************************************************************** (**************************************************************** () **************************************
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