Markets

Markets Update: Euro stocks kick off 2024 with gains as oil companies climb

European energy stocks have risen by 1 per cent, buoyed by gains in crude after Iran sent a warship to the Red Sea

  • January 2, 2024
A picture taken during an organised tour by Yemen’s Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen’s province of Hodeida. Picture: Getty

European stocks gained on the first day of trading in 2024, with energy shares leading the advance as crude oil prices rose amid increased tensions over the Red Sea.

The Stoxx Europe 600 was 0.4 per cent higher by 8:20 a.m. in London. Energy stocks climbed more than 1 per cent, buoyed by gains in crude after Iran sent a warship to the Red Sea in response to the US Navy’s sinking of three Houthi ...