Sectors
Oil Tops $90 as US-Iran Conflict Escalates, Asian Markets Mixed: Commerzbank
Brent crude rose above $90 a barrel as the US launched fresh strikes after American troops were killed in an Iranian attack in Jordan, according to Commerzbank in a note. US equity futures steadied.In response to the strikes, Iran targeted Kuwait and US military facilities in Qatar and announced it was suspending its commitments under the interim peace agreement, as well as warning of further retaliation, said Commerzbank in a Monday note.Asian equities traded mixed, with Chinese stocks outperforming while Japanese markets were closed, said the bank. US equity futures stabilized and the euro strengthened to $1.1445.In Europe, Andy Burnham, the incoming British prime minister, is planning a major restructuring to strengthen the prime minister's control over government priorities and reduce reliance on the Treasury.Germany raised its terrorism threat level amid heightened security risks. The country also plans to scale back renewable energy subsidies as part of a broader overhaul of its funding framework, citing mounting pressure on the power grid from rapidly increasing solar generation, added Commerzbank.In Asia, China's central bank held its loan prime rates (LPRs) steady, in line with expectations.
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