Global Shares Mostly Gain Tuesday      06/02 04:50

   Global shares mostly rose Tuesday, after U.S. President Donald Trump said 
Israel and Hezbollah had agreed to dial back fighting.

   TOKYO (AP) -- Global shares mostly rose Tuesday, after U.S. President Donald 
Trump said Israel and Hezbollah had agreed to dial back fighting.

   France's CAC 40 jumped nearly 1.0% in early trading to 8,223.71, while the 
German DAX gained 1.1% to 25,275.57. Britain's FTSE 100 added 0.3% to 10,372.39.

   U.S. shares were set to drift lower with Dow futures down 0.3% at 51,004.00. 
S&P 500 futures dipped 0.1% to 7,605.75.

   In Asia, Japan's benchmark Nikkei 225 slipped 0.3% to finish at 66,734.24. 
South Korea's Kospi inched up 0.2% to 8,801.49.

   The Hang Seng gained 2.5% to 26,038.32, while the Shanghai Composite rose 
0.4% to 4,075.10.

   Australia's S&P/ASX 200 shed less than 0.1% to 8,724.40.

   In energy trading, benchmark U.S. crude lost $1.25 to $90.91 a barrel. Brent 
crude, the international standard, slipped $1.49 to $93.49 a barrel. The levels 
are still well above the roughly $70 level they were at before the war.

   Much hinges on whether the United States and Iran will reach an agreement to 
reopen the Strait of Hormuz, allowing deliveries of oil to resume from the 
Persian Gulf and easing the upward pressure on inflation.

   Japan imports almost all its oil, although the effects on prices of gas and 
other products have been relatively contained by the release of the nation's 
reserves so far.

   "Crude shortages have already forced refiners across Asia and Europe to 
aggressively reduce runs," said analyst Stephen Innes. "The result is that the 
squeeze is no longer confined to crude inventories. It is spreading into the 
fuels that actually power economies: gasoline, diesel, jet fuel, LPG, and 
naphtha."

   On Monday, the United States said it bombed Iranian radar and drone sites 
after Tehran downed an American drone. Iran said it targeted U.S. soldiers in 
Kuwait with missiles that the U.S. said it shot down.

   Trump said the Israel and Hezbollah comments came after he spoke with 
Israeli Prime Minister Benjamin Netanyahu and communicated with the 
Lebanon-militant group through mediators.

   In currency trading, the U.S. dollar rose to 159.73 Japanese yen from 159.66 
yen. The euro cost $1.1648, up from $1.1631.