WORLD STOCKS SLIP INTO THE RED AS INFLATION, EARNINGS LOOM LARGE

Global shares edged into the red on Monday and investors, wary of rate hike narratives, braced for US inflation data and a corporate showing season where robust results are needed to justify high valuations. Geopolitical tensions were also on the radar as disruptions in the Red Sea raised shipping costs in Europe, while the Israeli conflict with Hamas threatened to spread to Lebanon.

European oil and gas stocks fell 1.8% on the STOXX 600 as crude prices dipped following sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output. Oil prices fell by more than 2% on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting worries about escalating tensions in the Middle East.

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