Arizona Tribune - Most global stock markets rise with eyes on megatech results

Oil prices rebounded after a sharp fall the previous day on relief that Israel's strikes on Iran spared the country's energy infrastructure.

Concerns in the oil market have now shifted back to focus on potential oversupply in 2025 and a slowdown in demand from China, the world's largest oil importer, according to analysts.

US stocks closed higher Monday, boosted by the cheaper oil, and as investors look ahead to a busy week of economic indicators with the market already hovering near record highs.

The US government will release its third quarter GDP growth estimate this week, as well as its closely watched monthly labour market report, which will indicate the health of the world's largest economy.

Investors are also eyeing the earnings reports of five of the "Magnificent Seven" US tech giants due this week, including Google-parent Alphabet, Amazon, Apple, Facebook-parent Meta, and Microsoft.

"Although any market focus on earnings will rapidly be diverted to next week’s presidential election and Federal Reserve meeting," said Danni Hewson, head of financial analysis at AJ Bell.

Major European stock markets were in the green in late morning trading while Asian markets ended mixed.

London edged up around 0.1 percent as investors awaited the first budget of Britain's new Labour government on Wednesday, expected to include tax rises on businesses.

Shares in banking giant HSBC rose around four percent, leading gains on London's FTSE 100, after it reported a strong set of earnings that beat profit expectations.

Meanwhile, shares in British oil and gas giant BP dropped one percent after the company reported a slump in profits on weak oil trading and refining margins, despite beating analyst expectations.

In Asia, Tokyo and Hong Kong stocks climbed but Shanghai and Singapore retreated.

Japanese shares built on the previous day's gains as cheaper oil and the weaker yen outweighed uncertainty after Japan's ruling coalition fell short of a majority in Sunday's general election.

Investors are awaiting the Bank of Japan's rate decision later this week, with the central bank expected to stand pat following two hikes earlier this year.

Focus is also on a key political meeting in Beijing next week, with investors hoping for details of an expected major stimulus plan to support China's struggling economy.

The People's Bank of China on Monday rolled out a new lending tool to inject liquidity into the market.

"Beijing hopes this tool will prop up market sentiment," said Stephen Innes, analyst at SPI Asset Management.

"China's economic engine has been sputtering with soft demand and lacklustre growth data, and with the potential shake-up of the US election looming enormous, stability in the financial markets is critical for Beijing," he added.

- Key figures around 1050 GMT -

London - FTSE 100: UP 0.1 percent at 8,296.06 points

Paris - CAC 40: UP 0.5 percent at 7,593.27

Frankfurt - DAX: UP 0.4 at 19,599.06

Tokyo - Nikkei 225: UP 0.8 percent at 38,903.68 (close)

Hong Kong - Hang Seng Index: UP 0.5 percent at 20,701.14 (close)

Shanghai - Composite: DOWN 1.1 percent at 3,286.41 (close)

New York - Dow: UP 0.7 percent at 42,387.57 (close)

Euro/dollar: DOWN at $1.0808 from $1.0815 on Monday

Pound/dollar: UP at $1.2983 from $1.2972

Dollar/yen: UP at 153.37 yen from 153.24 yen

Euro/pound: DOWN at 83.27 pence from 83.37 pence

Brent North Sea Crude: UP 1.0 percent at $71.70 per barrel

West Texas Intermediate: UP 1.1 percent at $68.06 per barrel

O.Ortiz--AT