Mixed Global Markets Follow Oil Price Decline

Global stock markets were mixed on Friday after a modest decline in US stocks on Thursday. The price of oil, which had surged earlier in the week due to tensions over the Strait of Hormuz, edged lower.

In Europe, Germany's DAX rose 0.7% and France's CAC 40 gained 0.3%. Britain's FTSE 100 was up 0.5%, while Tokyo's Nikkei 225 lost 0.1%.

China reported a robust pace of export growth at about 24% in July, driven by strong demand for electronics and high-tech products. The Shanghai Composite index gained 1%, while Hong Kong's Hang Seng picked up 0.5%.

The price of Brent crude slipped 0.3% to $82.26 per barrel, while US benchmark crude oil edged 0.1% lower to $77.19 per barrel. Roughly 85% of companies in the S&P 500 have reported their earnings results, with overall growth shaping up to be the strongest since 2021.