BEIJING—Global stock markets and Wall Street futures rose Tuesday as Liz Truss prepared to become British prime minister and Europe wrestled with uncertainty about Russian gas supplies.
London and Frankfurt opened higher. Shanghai and Tokyo gained. Benchmark U.S. crude rose more than $2 per barrel. The euro edged higher against the dollar.
European markets were jolted by Friday’s announcement that the suspension of Russian gas supplies through the Nord Stream 1 pipeline would be extended indefinitely. Shortages have pushed up prices and weigh on economic growth.
Truss “will have to hit the ground running as the U.K. prepares for a brutal winter,” Craig Erlam of Oanda said in a report. Noting news reports that Truss plans to freeze energy bills, Erlam said “the question is what impact it will have on inflation and gas demand.”…