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Shipping and energy stocks extended gains on Friday, after the US and UK launched airstrikes on Houthi targets in Yemen, sending crude higher and stoking expectations that shipping rates will remain elevated.
German shipping firm Hapag-Lloyd AG rose as much as 4.8% while A.P. Moller – Maersk A/S gained as much as 3.9%. Oslo-based Frontline Plc jumped more than 5%, while Danish peers DSV A/S, D/S Norden A/S and DFDS A/S also advanced. In US premarket trading, ZIM Integrated Shipping rose 5.8%.
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