Global markets mixed and oil prices rise as Iran, US launch new attacks

New York, Jul 9 (AP) US markets are mixed early and oil prices are rising modestly as Iran and the US launch fresh attacks in the Middle East, threatening a fragile truce. Futures for the S&P 500 rose 0.1 per cent before the opening bell Thursday, while futures for the Dow Jones Industrial Average fell 0.1 per cent. Nasdaq futures were up 0.5 per cent. The United States launched more airstrikes on Iran, and Iran responded by firing at Bahrain, Kuwait and Qatar, a day after President Donald Trump said a temporary ceasefire was “over.” The prospects for a lasting peace are up in the air with high-level talks to end the war still underway, according to a regional intelligence official involved in the mediation efforts who spoke on condition of anonymity. Oil prices inched up again Thursday, with Brent crude, the international standard, rising 64 cents to to USD 78.66 per barrel. It briefly topped USD 80 on Wednesday. Before the Iran war began, Brent oil was trading at around USD 72 a barrel. Earlier optimism over an interim peace deal recently brought it back to prewar levels. Benchmark US crude rose 54 cents to USD 74.06 a barrel. A steady decline in gasoline prices has reversed this week and the cost for a gallon jumped a nickel overnight, according to motor club AAA. Prices have risen for two days, wiping out a week of declines. The average price for a gallon of regular gasoline was USD 3.85 Thursday, according to AAA. That's 69 cents more per gallon than at this time last year. In equities markets, PepsiCo shares ticked down 1 per cent after the drink and snack giant reported stronger-than-expected second quarter revenue despite weaker demand in North America, where it said consumers tightened their budgets due to economic concerns. Earnings season ramps up next week when many of the biggest US banks and airlines report their latest quarterly results. Coming later Thursday are the government's weekly report on layoffs and June home sales data from the National Association of Realtors. Elsewhere, at midday in Europe, Britain's FTSE 100 fell 0.7 per cent, France's CAC 40 rose 0.3 per cent and Germany's DAX traded 0.1 per cent higher. Tokyo's Nikkei 225 reversed some of its losses from earlier in the week, gaining 1.4 per cent to 67,743.85. Chip equipment maker Tokyo Electron jumped 5.5 per cent, and artificial intelligence-focused investment holding firm SoftBank Group slipped 0.1 per cent. South Korea's Kospi index zigzagged and ended 0.6 per cent higher at 7,291.91 despite falling earlier in the day. Samsung Electronics was up 0.2 per cent on Thursday, while memory chipmaker SK Hynix gained 5.3 per cent. The Shanghai Composite index traded 1.7 per cent higher at 4,036.59, even as China's producer price index rose 4.1 per cent in June compared to a year earlier. That was higher than May's 3.9 per cent, as some economists attribute higher inflation to impacts from the Iran war. Hong Kong's Hang Seng shed 0.7 per cent to 24,030.18. Shares of Apple supplier Luxshare fell 1.6 per cent in its trading debut in Hong Kong. Chinese AI company Zhipu, or Z.ai, surged 11.3 per cent after it said it's raising about USD 4 billion through a share sale. Australia's S&P/ASX 200 shed 0.3 per cent to 8,762.50. Taiwan's Taiex fell 0.8 per cent, and India's Sensex climbed 0.6 per cent. (AP) FHK NPK NPK