Europe's stock markets, which completed a third weekly rise in a row, have closed yesterday on index declines on the background of concerns that an escalation of the conflicts in the Arab world will lead to continued growth in oil prices and inflation and hurt global economic growth. By the end of yesterday's trading day, the London Stock Exchange locked at a 1.1% decline, while the Paris and Frankfurt exchanges dropped by 1.4% each.
 

A magnitude 6.3 earthquake had struck near Christchurch, on New Zealand’s southern island. As a consequence of the event, the New Zealand stock exchange dives by 1.4%, the New Zealand dollar weakens by 0.8% against the Dollar to a level of 0.75 for one New Zealand dollar.

Analysts warn that expanding of the uprisings in the Middle East and North Africa – the area where over a third of the global oil production is concentrated – may cause a leap in oil prices that will drag the global economy into a renewed recession.

On the background of these events, as well as the strengthening political tensions in Libya, the price of gold crossed the level of 1,400 United States dollars for one ounce of gold, the price of silver rose by over 4% , reaching a 30-year high, while the price of crude oil leaped up by more than 7%, to a level of 93.0 United States dollars for one barrel of oil on the background of concerns of a possible disruption of the global oil supply.