Bitcoin surged to an all-time high of over $98,000 on Thursday, extending its rally. Meanwhile, major stock markets diverged, and the US dollar saw mixed movements as investors weighed escalating tensions in the Russia-Ukraine conflict.
Oil prices rose as geopolitical concerns overshadowed worries about growing US crude supplies, according to Matt Britzman, senior equity analyst at Hargreaves Lansdown. He also pointed out that the mounting tensions have boosted gold prices, with investors seeking refuge in the precious metal.
On Thursday, Kyiv accused Russia of launching its first intercontinental ballistic missile attack on Ukraine, though without a nuclear warhead, marking a new escalation in the conflict.
Stock markets in Asia and Europe moved in different directions as Wall Street awaited its reopening. Nvidia, a key player in artificial intelligence, posted impressive earnings late Wednesday that exceeded forecasts but still fell short of investor expectations. The company’s market value has surged by 200% over the past year, making it the world’s most valuable company, though its stock dipped in after-hours trading.
Investment analyst Dan Coatsworth from AJ Bell commented that the market’s reaction to Nvidia’s results reflects a growing focus on granular details as investors take a closer look at companies.
In corporate news, shares of India’s Adani Group plunged after US prosecutors charged its owner, Gautam Adani, with offering over $250 million in bribes for major contracts. Adani Enterprises, the group’s flagship company, dropped nearly 20%, while several subsidiaries saw losses ranging from 10% to 20%.
On the other hand, Bitcoin continued its rise, approaching the $100,000 mark, with growing optimism around Donald Trump’s election and hopes of a more crypto-friendly US government, according to Britzman.
Key Market Figures (around 1100 GMT):
London (FTSE 100): Up 0.2% at 8,101.90
Paris (CAC 40): Down 0.4% at 7,170.84
Frankfurt (DAX): Flat at 18,998.49
Tokyo (Nikkei 225): Down 0.9% at 38,026.17 (close)
Hong Kong (Hang Seng Index): Down 0.5% at 19,601.11 (close)
Shanghai (Composite): Up 0.1% at 3,370.40 (close)
New York (Dow): Down 0.3% at 43,408.47 (close)
Currency & Commodity Movements:
Euro/dollar: Down at $1.0521 from $1.0545
Pound/dollar: Down at $1.2632 from $1.2652
Dollar/yen: Down at 154.39 yen from 155.45 yen
Euro/pound: Down at 83.28 pence from 83.33 pence
Brent North Sea Crude: Up 1.7% at $74.06 per barrel
West Texas Intermediate: Up 1.9% at $70.02 per barrel
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