Global markets hit as oil prices surge again

Scott Sinclair
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European and Asian markets were sharply lower on Tuesday as sentiment was hit by escalating tensions in Libya and an earthquake in New Zealand's second-largest city which has killed at least 65 people.

London's leading index of shares was almost 60 points, or 1%, lower to sit at about 5,955 shortly after opening.   Meanwhile, the French Cac was down 0.9% and the German Dax declined almost 0.5%. In Asia, Japan's Nikkei index, Hong Kong's Hang Seng and South Korea's Kospi were all trading about 2% lower. Markets were hit by the continuing unrest in Libya and the Middle East, which has sent oil prices to a two-and-a-half year high. Elsewhere, an earthquake in New Zealand and a decision by Moody's Investors Service to cut the outlook for Japan's Aa2 bond rating to negative from...

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