#European #Stocks Rise as Yemen Strikes Boost #Oil Prices (12 Jan 2024)

European stocks rise ahead of an expected slightly higher U.S. open, though Asia markets mostly fell. The Stoxx Europe 600 and DAX advance 0.9%, the FTSE 100 gains 0.8% and the CAC 40 rallies 1%.

Brent crude rises 2.2% to $79.10 a barrel. IG futures data show the Dow opening at 37778, versus Thursday's close of 37711.

Markets in Australia, mainland China, South Korea and Hong Kong lost ground, though Japanese stocks rose 1.5%. "Chinese prices declined again in December, adding pressure on policymakers to find a means of spurring the economy," IG analysts write. "The U.K. economy rebounded in December, thanks to stronger services output, but the three-month figure dropped 0.2%.

U.S. and U.K. attacks on Houthi positions in Yemen have bolstered oil prices."

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