Global shares slide as crude oil prices climb higher

Summarised from 2 outlets · Updated 20 Oct, 11:02 · Archive

European shares fell for the second consecutive day as crude oil prices rose to a five-month high.

European shares have fallen for the second straight day as crude oil prices continue to climb. The pan-European STOXX 600 dipped 0.6 per cent on Tuesday morning after dropping close to one per cent on Monday, with European semiconductor companies including ASML and ASMI falling more than three per cent.

Brent crude prices hit a five-month high above $US110 a barrel. Yemen's Iran-aligned Houthis announced on Monday they had launched several attacks on Saudi energy, airport and military targets, contributing to the rise in oil prices and putting pressure on investor risk sentiment.

Market movements were mixed elsewhere. The euro recouped some losses and was up 0.2 per cent at $US1.122, whilst the dollar index fell 0.2 per cent to 101.77. The Japanese yen strengthened 0.2 per cent after an auction of long-dated Japanese government bonds drew record demand.

Investor focus is turning towards earnings results from major artificial intelligence companies, with SpaceX and Meta among those expected to report.

How it is being reported

• Global shares slide again as oil stays highCrude prices have resumed their climb, putting pressure on European shares, while investors look towards key earnings from tech giants such as SpaceX and Meta.The West Australian · 20 Oct, 10:39
• Global shares slide again as oil stays highCrude prices have resumed their climb, putting pressure on European shares, while investors look towards key earnings from tech giants such as SpaceX and Meta.Perth Now · 20 Oct, 10:39

In this story: European Union · Saudi Arabia · Yemen · France · Bank of Japan · Meta · SpaceX

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