Gold and Oil Dip on News of Bin Laden's Death

HONG KONG — U.S. stock futures rose modestly Monday and the price of oil and gold fell as news of Osama bin Laden’s death eased global security concerns, at least for the moment.
Markets were generally higher in Asia and in early trading in Europe, the Euro Stoxx 50 index, a barometer of euro zone blue chips, rose 0.2 percent. The CAC 40 in Paris rose 0.3 percent and the DAX in Frankfurt rose 0.7 percent. London markets were closed for a bank holiday.
Standard & Poor’s 500 index futures rose 0.4 percent, suggesting Wall Street would gain at the opening.
The dollar was mixed. The euro rose to $1.4815 from $1.4806 late Friday, while the British pound slipped to $1.6693 from $1.6706. The dollar rose to 81.47 yen from 81.20 yen
The Japanese and South Korean markets were already 1 percent higher before the U.S. President Barack Obama announced that U.S. forces had killed bin Laden in Pakistan.
By the close the Nikkei 225 index had gained 1.6 percent and the Kospi by 1.7 percent. This took the Nikkei to 10,004,20 points, the first time it closed above the 10,000-point mark since the devastating earthquake and tsunami that struck the country on March 11.

U.S. forces kill Osama bin Laden in Pakistan raid

WASHINGTON — Osama bin Laden, the mastermind behind the Sept. 11 terror attacks and the world's most wanted man, was killed in a targeted raid in Pakistan, President Obama said late Sunday in an announcement that surprised the world.

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  Handout via AP
  Osama bin Laden holds a Kalashnikov assault rifle in 1998 at a meeting at an undisclosed location in Afghanistan, according to the source. This photo was offered to The Associated Press on Sept. 22, 2001, by a Pakistani photographer who wished to remain anonymous.

Osama bin Laden holds a Kalashnikov assault rifle in 1998 at a meeting at an undisclosed location in Afghanistan, according to the source. This photo was offered to The Associated Press on Sept. 22, 2001, by a Pakistani photographer who wished to remain anonymous.

Osama's death: What next for al-Qaeda?

Bin Laden dead

The killing of al-Qaeda leader Osama Bin Laden is a huge blow to the organisation but as guest columnist Ahmed Rashid reports, its decentralised nature means it has the potential to carry out attacks on any number of targets.

There have been cheers and jubilation in the US and elsewhere in the West, but capital cities around the world are already bracing for the repercussions of Bin Laden's killing.
Hundreds of dedicated and would-be jihadis will be mourning and swearing to give their lives in revenge for his death at the hands of a joint US-Pakistani special forces team in the city of Abbotabad.
There is little doubt that the death of Bin Laden is a huge blow to al-Qaeda.
But at the same time the network has moved over the years from a highly centralised hierarchy - with recruiting, training and orders all scrutinised by its top leaders - to something much more loose and amorphous.