Global Markets Steady Amidst Middle East Tensions and Central Bank Meetings

World shares experienced modest gains on Monday as oil prices steadied despite ongoing tensions in the Middle East, with the markets keeping a close eye on upcoming central bank meetings. Investors appeared calm, with Wall Street stock futures firming after an initial dip.

Brent crude oil saw a 0.5% dip but retained most of last week's 13% surge. This increase in oil prices could influence the Federal Reserve's decision-making process concerning potential interest rate cuts later this year. Meanwhile, other global markets like MSCI's all-country index, Europe's STOXX 600, and S&P 500 futures experienced slight increases.

The currency markets saw the euro rise, and the yen held steady, while currencies of oil-exporting nations like Norway benefited from increased oil prices. Central banks in Norway and Sweden are meeting this week, with economic shifts anticipated. The Swiss National Bank and the Bank of Japan are also meeting with potential policy changes on the agenda.

(With inputs from agencies.)