Global stock markets started March with declines, while oil prices surged 13% amid the Middle East conflict. European markets opened in the red: Paris (-1.96%), Frankfurt (-1.99%), Milan (-2.13%), London (-0.55%), and Madrid (-2.58%). The hardest hit were airline and tourism sector stocks. The price of Brent crude rose by about 13%, reaching the $80 per barrel mark, while US WTI oil increased by 12%. Meanwhile, the price of European gas soared by over 20%. Asia also saw a negative trend: Tokyo closed down 1.4%, and Hong Kong fell by 2.1%. Japanese airlines ANA and JAL plunged more than 5%, Air France-KLM dropped 7.24%, and German Lufthansa fell 5.77%. In contrast, energy companies showed positive gains: Shell (+5.32%), BP (+4.70%), Repsol (+4.29%), and TotalEnergies (+3.97%). The Argentine market is also in focus following President Javier Milei's speech to Congress, where he outlined his reform plan. Markets are volatile due to the escalating conflict in the region after the US and Israel's strike on Iran.
