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Financial markets were relieved today, driven by positive signals regarding the readiness of the European Troika (France, Germany, and the United Kingdom) to present a comprehensive negotiating offer to Iran that includes its nuclear program and the financing of armed groups. These moves come ahead of an upcoming diplomatic meeting in Geneva, raising hopes of avoiding a large-scale military escalation between Iran and Israel, which French President Macron described as a “worst-case scenario.”
European stock indices performance
- STOXX600: 538.76 points, up 2.90 points, or 0.54 percent
- German DAX: 23,323.37 points, up 265.99 points, or 1.15 percent
- FTSE UK: 8,824.08 points, up 32.28 points, or 0.37 percent
- French CAC: 7,601.44 points, up 47.99 points, or 0.64 percent
- Italian FTSE MIB: 39,327.88 points, up 385.69 points, or 0.99 percent
oil prices
- West Texas Intermediate crude: $76.02 per barrel, up $0.88, or 1.17 percent
- Brent crude: $76.94 per barrel, down $1.91, or 2.42 percent
metal prices
- Gold: $3,368.70 per ounce, down $39.40, or 1.16 percent
- Silver: $36.04 per ounce, down $0.873, or 2.37 percent
European diplomatic moves restored some balance to markets, as fears of an escalating confrontation between Iran and Israel eased. This relief prompted European stock indices to rise, while precious metals fell due to weak demand for safe havens. Oil prices fluctuated between rising US crude and falling Brent crude, amid fluctuations that reflect the balance between geopolitical concerns and expectations regarding global demand.
