*

Crude prices retreat from multi-month highs, after US

strikes

Iran

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Wall Street stocks gain, European shares fall

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Dollar advances against yen, falls against franc; euro

rebounds

(New throughout, updating with US markets open, fresh analyst

comment)

By Chibuike Oguh

NEW YORK, June 23 (Reuters) - Global equity markets

advanced on Monday even as oil prices fell but still traded near

multi-month highs as markets shrugged off the effects of the

U.S. attacks on Iranian nuclear sites in support of an

Israeli military campaign.

Wall Street's main indexes were all trading higher, with 9

out of 11 of the benchmark S&P 500 subsectors advancing. Energy

equities were the biggest losers on the session.

The Dow Jones Industrial Average rose 0.17%

to 42,279.55, the S&P 500 rose 0.48% to 5,996.40 and the

Nasdaq Composite rose 0.61% to 19,565.74.

European shares were down 0.2%. MSCI's broadest index

of Asia-Pacific shares outside Japan fell 0.66%

overnight. MSCI's gauge of stocks across the globe

rose 0.28%.

Israel bombed Evin prison in northern Tehran on Monday, a potent

symbol of Iran's governing system, and Revolutionary Guard

command centers responsible for internal security in the Tehran

area. Iran repeated earlier threats to retaliate against the

United States. Its parliament approved the closure of the Strait

of Hormuz, a major shipping lane in the global oil trade.

"The market being higher signals a risk-on sentiment, which is

somewhat surprising considering that we had a series of very

volatile events over the weekend with U.S. participation in the

(Iran) bombing efforts with Israel," said Andrew Wells, chief

investment officer at SanJac Alpha in Houston.

"The lesson we take from this is that these headline events

are having less and less effect on the market since tariffs went

on - the so-called Liberation Day - which was the big volatile

event."

Brent crude futures fell 0.83% to $76.37 a barrel.

U.S. West Texas Intermediate crude fell 0.88% to $73.14.

The Brent and WTI crude benchmarks touched five-month highs of

$81.40 and $78.40, respectively.

The Strait of Hormuz is only about 33 km (21 miles) wide at its

narrowest point and around a quarter of global oil trade and 20%

of liquefied natural gas supplies pass through it.

Federal Reserve Vice Chair for Supervision Michelle Bowman said

on Monday the time to cut interest rates appeared imminent as

she was increasingly worried about labor market risks and was

less concerned that high import taxes would cause an ongoing

inflation problem.

The dollar strengthened 0.41% to 146.68 against the Japanese

yen and weakened 0.39% to 0.814 against the Swiss

franc. The euro was up 0.09% at $1.1532, rebounding

from earlier losses following Bowman's comments.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

fell 0.19%.

Gold prices fell. Spot gold rose 0.56% to

$3,387.00 an ounce. U.S. gold futures rose 0.5% to

$3,385.10 an ounce.