Oil up on Iran Comments, Wall Street ticks Down

An index of stocks across the world ended flat on Monday while Wall Street dipped, and oil prices rose to a three-month high after Iran's leader called on non-OPEC producers to help support prices. The US dollar rose against a basket of its peers after strong manufacturing data, sterling brushed against a three-decade low versus the greenback and the Colombian peso fell after voters rejected a peace deal to end a more than 50-year-old war. 

 

Traders were on the lookout for news from Deutsche Bank, which is working to reach a settlement with US authorities who have demanded a fine of up to USD14 billion for the way the bank sold toxic mortgage-backed securities. 

 

The German stock market was closed on Monday but Deutsche's US-listed shares fell as much as 3.7 percent. The stock ended down 0.8 percent at USD12.98 after hitting last week USD 11.185, a record low. 

 

"The feeling is there will be a negotiation lowering that penalty but it's certainly a bit of an overhang on the overall market," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

 

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