US Sanctions on Iranian Oil Help FTSE 100 Surge to Six-Month High
Arslan Butt•Tuesday, April 23, 2019•1 min read
The US threat to stop all sanction waivers to Iranian oil imports pushed oil stocks higher, causing the FTSE 100 to rise 0.4% and touch a six-month high. Stock prices of companies like Shell and BP went up after the US announced yesterday that Iranian oil imports will be brought down to zero.
Another reason for the climb in FTSE 100 was the surge in Thomas Cook shares. The travel company’s shares climbed by almost 18% over reports of multiple parties expressing interest in a takeover of its tour operations or of the company as a whole.
Investors, however, continue to trade cautiously over concerns that China could slow down its stimulus measures over improved economic data releases.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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