India, June 8 -- French stocks drifted lower on Monday as tensions in the Middle East, rising oil prices and fears of monetary tightening by the Federal Reserve rendered the mood bearish.
Recent data showing stronger-than-expected non-farm payroll growth in the U.S. has raised concerns the Federal Reserve will hike interest rate this year.
Amid fresh strikes by Israel on Iranian military targets, oil prices rose sharply today. Brent crude futures climbed to over $98 a barrel before easing to $97.19, still up as much as 4.4% over previous close.
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