European markets were higher on Tuesday as investors assessed geopolitical risks and the UK markets reopened after being closed on Monday for a national bank holiday.
The pan-European Stoxx 600 was 0.21 per cent higher at 8:49 AM London time, with all major regional indexes trading in the green. Sectors were mixed, with mining stocks adding 1.08 per cent, while retail stocks shed 0.34 per cent and tech dipped 0.18 per cent.
European markets had posted a mixed session on Monday.
Meanwhile, Asia-Pacific markets largely fell on Tuesday, tracking losses in the S&P 500 and the Nasdaq overnight, while investors assessed industrial profit data out of China.
China’s industrial profits from January to July climbed 3.6 per cent year on year, compared to a 3.5 per cent growth between January and June.
Hong Kong Hang Seng index rose 0.4 per cent in its final hour of trade, while mainland China’s CSI 300 dropped 0.57 per cent and closed at 3,305.33.
Japan’s Nikkei 225 rose 0.47 per cent to close at 38,288.62, while the broad-based Topix gained 0.73 per cent to 2,680.80. The only two major indexes in positive territory.
South Korea’s Kospi fell 0.32 per cent to close at 2,689.25, while the small cap Kosdaq saw a loss of 0.24 per cent to end at 764.95.
Australia’s S&P/ASX 200 reversed gains to decline 0.16 per cent, wrapping its trading session at 8,0845. Earlier in the trading day, the index was close to breaching its all-time closing high of 8,114.7, set on Aug. 1.
Late Monday, oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend, with U.S. West Texas Intermediate crude climbing 3.5 per cent to close at $77.42 per barrel and Brent crude up 3.05 per cent at $81.43 a barrel, its highest in about two weeks.
Oil prices later pared some gains on Tuesday, with WTI futures trading at $77.02 a barrel and Brent at $81.07 a barrel.
Overnight in the U.S., the Dow Jones Industrial Average on Wall Street reached new highs, closing up 0.16 per cent, at 41,240.52. The S&P 500 and Nasdaq Composite fell 0.32 per cent and 0.85 per cent, respectively.