THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

BANGKOK (AP) — Oil prices fell back Monday while the prices of precious metals surged as markets reacted calmly to the U.S. capture of Venezuelan President Nicolas Maduro in a weekend raid.

Asian shares rallied on heavy buying of tech-related stocks after modest gains Friday on Wall Street. The future for the S&P 500 was up 0.2% while that for the Dow Jones Industrial Average was virtually unchanged.

In early European trading, Germany’s DAX was up 0.8% at 24,728.94, while the CAC 40 in Paris picked up 0.3% to 8,216.98. Britain’s FTSE 100 edged 0.2% higher, to 9,968.71.

“While the capture of Venezuelan president Maduro by American forces has dominated headlines, financial markets seem unperturbed,” Thomas Mathews of Capital Economics said in a report. “We agree with the implicit view that the near-term economic and financial implications are minor.”

Shortly after trading began Monday, U.S. benchmark crude oil rose slightly. But it later was trading 36 cents lower at $56.96 per barrel. Brent crude, the international standard, gave up 34 cents to $60.41 per barrel.

After years of neglect and international sanctions, Venezuela’s oil industry is in disrepair. It could take years and major investments before production can increase dramatically. But some analysts expect its current output of about 1.1 million barrels a day could double or triple fairly quickly.

With oil levels already plentiful, crude already was trading near its lowest level in about six months.

In any case, the U.S. move rippled through financial markets as traders maneuvered to account for the uncertainty brought on President Donald Trump’s unusual military operation and his insistence that the U.S. will be running Venezuela following its Maduro’s ouster.

The price of gold rose 2.7% and silver jumped 6.6%.

Such assets are often considered safe havens in times of geopolitical turmoil.

“Investors are happy to own risk, but they want insurance in the drawer. This is confidence with a hedge, not euphoria,” Stephen Innes of SPI Asset Management said in a commentary.

Share prices in Asia shot sharply higher.

In Tokyo, the Nikkei 225 jumped 3% to 51,832.80, its highest close since it hit a record of 52,411.34 on Oct. 31. The index closed at a year end high for 2025 and only resumed trading on Monday.

“Looking at the environment surrounding the markets, continuously, there are various risk factors. We must keep an eye on geopolitical risks in Ukraine, the Middle East and East Asia, the U.S.-China trade war, monetary policies in other countries and their development, and corporate performance trends in Japan,” Hiromi Yamaji, CEO of the Japan Exchange Group, said in the market’s traditional New Year opening ceremony.

South Korea’s Kospi surged 3.4% to 4,457.52, a record. It also ended Friday with a record high close.

Australia’s S&P/ASX 200 closed flat at 8,728.60, while Taiwan’s benchmark climbed 2.6%.

In other trading early Monday, the dollar rose to 156.88 Japanese yen from 156.82 yen. The euro slipped to $1.1680 from $1.1726.

This week is the first full week of the new year. It will bring several closely watched U.S. economic updates, some of the last big updates the Fed will see before its next meeting at the end of January.

On the agenda are private reports on the status of the services sector, which is the largest part of the U.S. economy, along with consumer sentiment. Government reports on the job market will also be released. The hope is they’ll help paint a clearer picture of how various parts of the U.S. economy closed out 2025 and where it might be headed in 2026.

On Friday, U.S. stocks eked out small gains to kick off the new year.

The S&P 500 rose 0.2% and the Dow rose 0.7%. The Nasdaq composite fell less than 0.1%, was weighed down by a 2.2% loss for Microsoft and a 2.6% decline for Tesla, after it reported falling sales for a second year in a row.

Nvidia, Microsoft and Tesla are among the most valuable companies in the world and their outsized valuations give them more influence on the stock market’s direction. That includes sometimes pushing the market up and down from hour to hour.

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Associated Press video journalist Mayuko Ono contributed from Tokyo.

Entertainment venues and lifestyle brand Pacha Group has generated EUR €118.8 million (approx. USD $139 million) in revenue and €40.5 million ($47m) in EBITDA during the nine months ended September 2025.

The brand, which was acquired by Dubai-based FIVE Holdings two years ago, did not provide year-ago comparisons. It attributed the performance to a “record-breaking season” at Pacha Ibiza nightclub, which, it says drew 583,834 guests across 156 events this season, up 20% YoY. Revenue from the nightclub increased 17% YoY.

Destino Five Ibiza, repositioned as a five-star resort, posted a 41% YoY jump in average daily rate to €580 ($680). The property posted 85% occupancy and 7% revenue growth despite a truncated operating season due to renovations. The venue reopened on June 1.

Parent company FIVE Holdings booked consolidated revenue of AED 1.7 billion ($463 million) and EBITDA of AED 513 million ($140 million). Pacha said it now makes up roughly 30% of FIVE Holdings’ hospitality revenue and about a third of group EBITDA.

Meanwhile, Pacha’s merchandise division booked 59% revenue growth. Retail sales across five Ibiza stores climbed 62% YoY, wholesale business expanded 30%, and e-commerce sales surged 170%.

FIVE Holdings acquired Pacha Group in October 2023 for an undisclosed amount. The transaction included Pacha Ibiza nightclub, Destino Pacha Hotel (subsequently renamed Destino Five Ibiza), Pacha Hotel, Toy Room Club, WooMoon Storytellers, The Pacha Collection fashion line, and the Pacha brand.

FIVE Holdings operates a portfolio worth close to AED 13 billion ($3.54 billion) spanning Dubai, Zurich, and Ibiza. The company runs 1,571 LEED Platinum Keys and carries an ‘A’ ESG rating from ISS.

Pacha Ibiza nightclub received LEED Platinum certification with 81 points, while Pacha Hotel secured the same certification with 83 points. Both operate on 100% renewable electricity.

In 2024, Pacha Group said it avoided 538 metric tons of CO2 equivalent emissions and reduced its carbon footprint by 34%. Destino Five Ibiza cut water consumption by 40% through recycling and conservation systems, contributing to a 7% reduction in group-wide water use in 2024.

FIVE Holdings claims its properties have carbon footprints up to four times lower and water footprints 160% to 280% lower than typical Dubai five-star resorts, citing Cornell University’s CHSB 2024 benchmark.

Back in September, FIVE Holdings reported that it had secured a $460 million revolving credit facility to fuel its global expansion plans. The financing arrangement was struck with Commercial Bank of Dubai, AAIB, and Santander.