Global stock markets remained focused on developments in peace negotiations in the Middle East on Thursday, alongside a new wave of corporate earnings. In Europe, Paris and Milan saw slight losses of 0.14% and 0.27% respectively, while London and Frankfurt edged up by 0.29% and 0.36%.
Across the pond in New York, both the Nasdaq and the S&P 500 hit record highs for the second consecutive session, with gains of 0.36% to 24,102.70 points and 0.26% to 7,041.28 points respectively. The Dow Jones also saw a 0.24% increase.
Wall Street appeared optimistic, with investors pushing the momentum to see how far it can go. Analysts attribute this positive sentiment partly to constructive signals around the Middle East conflict, including recent comments from President Trump.
Trump announced on Thursday that Iran had agreed to hand over enriched uranium, one of its demands for a deal with Tehran, and declared a ceasefire in Lebanon. The situation remains fluid, with ongoing negotiations facilitated by Pakistan for a second round of talks.
Oil prices rose on Thursday due to the ongoing tensions in the Middle East. The Brent crude oil price for June delivery climbed by 4.70% to $99.39, while the US equivalent, WTI for May delivery, increased by 3.72% to $94.69. The Strait of Hormuz, a vital passage for world oil supplies, remains locked by Iran.
The physical oil market continues to see high prices, even with some workaround routes. Approximately 13 million barrels of oil per day have been lost due to the Gulf situation. Experts warn that a further escalation of conflict leading to prolonged closure of the Strait of Hormuz could result in a significant spike in oil prices.
In addition, market attention is also drawn to ongoing corporate earnings reports. Companies such as Barry Callebaut in Zurich experienced a sharp decline in stock value, while Tesco in London reported increased profits for the 2025-2026 fiscal year but expressed concerns about the impact of the Middle East conflict on the current year’s results. Pernod Ricard in Paris and PepsiCo in the US also showed mixed results in light of the continuing geopolitical tensions.
This news was published on April 16 at 10:44 PM by AFP.
