The biggest monthly selloff in global stocks since 2022 moderated after the US gave Iran more time to reach a deal on ending the month-long war.
US equity-index futures extended gains to 0.5%, signaling a rebound after the underlying gauges slumped to their lowest level since September. That came after President Donald Trump delayed his deadline for Iran to agree to a ceasefire deal by 10 days. European shares were also set to open 0.6% higher on Friday. Asian equities pared earlier losses to drop 0.5%. The MSCI All Country World Index is still headed for its worst month in more than three years as the Middle East conflict stokes concerns about inflation and lower economic growth. Australian and New Zealand bond yields pushed higher, following similar moves in Treasuries in the US session. The selloff was worse in Japan, where the 2-year yield hit its highest level since 1995 and longer-dated equivalents surged. European bond futures also dipped. Hurting the sentiment was Brent crude paring losses of as much as 2.7% and trading little changed at about $108 a barrel. The latest bout of whipsaw trading extends a month of war-driven swings, with investors uncertain about whether hostilities are set to ease or escalate. Traders are closely watching the Strait of Hormuz, a key waterway for Middle East oil flows that remains effectively shut, driving crude oil higher and adding to inflation pressures. Trump said talks with Iran were going “very well.” He also said he would extend his pledge to refrain from attacks on the country’s energy sites, offering a brief calm to global energy markets jolted by the conflict. Iran responded to the ceasefire proposal through intermediaries, the semi-official Tasnim news agency reported, and is now awaiting a reply. Tehran has a string of conditions for ending the conflict, one of which is a guarantee that the US and Israel won’t resume their attacks.
The markets were caught off guard by the initial US and Israeli strikes at the end of February, which came in the middle of talks that were ostensibly going well, but were accompanied by a huge US military buildup in the Middle East, Kyle Rodda at Capital.com wrote in a note. Asia’s benchmark share index has dropped 10% this month, while gold slumped about 15%. Brent crude has jumped about 48% since the war started at the end of February.
Higher oil prices have fueled inflation concerns, raising the prospect that policymakers may keep interest rates elevated or even tighten further. That’s reflected in Treasuries, with the benchmark 10-year note yielding 4.42% on Friday, up about 48 basis points from its Feb. 27 close. In other corners of the market, the yen strengthened against the dollar after Finance Minister Satsuki Katayama said the authorities can take measures against foreign-exchange moves, including bold actions. Bitcoin traded below $69,000. Sentiment remained fragile, and some of the optimism was damped after the Wall Street Journal reported the Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East. Meanwhile, Treasury Secretary Scott Bessent said a US insurance program meant to boost shipping through the Strait of Hormuz will begin soon, a move that may help revive flows of much of the world’s oil and gas supplies. The near-total closure of the waterway has meant millions of barrels of lost daily oil output, while pushing up product prices from diesel to jet fuel. The United Arab Emirates told allies that it would participate in a multinational maritime task force intended to reopen the Strait of Hormuz, as it lobbies to form a coalition to ensure shipping is able to pass through the vital Gulf waterway, the Financial Times reported. US After Hours President Trump has extended pause on attacking Iran energy facilities to April 6, according to CNBC; U +13.8% sharply higher after raising guidance; AGX +9.8% higher on earnings; ACOG -8.1% lower on earnings.
Nikkei -0.23% Hang Seng +0.67% CSI +0.49% Shanghai +0.57% Shenzen +1.13%
Eur$ 1.1526 CNH 6.92 CNY 6.91 JPY 159.65 GBP 1.3338 CHF 0.7958 RUB 81.6267 TRY 44.4598 WTI$ 94 -0.47% Gold 4;466 +1.95% BTC 68,756 -0.30% ETH 2;065 +0.08%
S&P +0.44% Nasdaq +0.45% EuroStoxx +0.29% FTSE +0.27% Dax +0.37% SMI -0.50%
Macro :
- SEMICONDUCTOR INDEX CLOSES DOWN 4.8%, MOST SINCE DECEMBER
- Barclays Sees S&P 500 Jump Up to 5% on Iran Deal: Equity Insight
- Millennium and Engineers Gate Wind Down Hedge Fund Partnership
- IDF Says Struck Ballistic Missiles Production Sites Across Iran
- UK February Vehicle Output Slumps as Exports Weaken: SMMT
Keep an eye on :
Keep an eye on :
- ABI BB : AB InBev Says Chairman Barrington to Retire
- AEIN GY : Allgeier meets its earnings guidance for 2025 and is strengthening its focus on AI-based platform
- AMZN US : Amazon AI Chip Product Leader Departs
- Anthropic IPO : Claude AI Maker Anthropic Said to Weigh IPO as Soon as October - The Information
- AAPL US : Apple Gives iPhone Designers Rare Bonuses to Fight AI Poaching
- AAPL US : Apple to Open Up Siri to Rival AI Assistants in Strategy Shift
- ATG LN : Auction Technology Group Shares Up 5.4%, Most in Almost 10 Weeks
- AVCT LN : Avacta Group Offers GBP10 million Shares at GBp10/Share
- BARC LN : German BaFin Fined Barclays €1.65m For Late Notifications
- BF/B US : Pernod and Jack Daniel’s Maker Brown-Forman Confirm Merger Talks
- 1211 HK : BYD ; BYD Stock Rebound Gathers Pace as Oil Shock Drives EV Sales Boom
- CAI AV : CA Immo FY Dividend per Share Misses Estimates
- DBV FP : DBV Tech FY Net Loss $147M Vs. Loss $113.9M Y/y
- DEZ GY : KKCG Maritime Raises Bid for Ferretti to €3.90/Share
- EVD GY : CTS Eventim FY Revenue Beats Estimates
- FGR FP : Eiffage Boosts Stake in Getlink to 29.40%
- EXA FP : Exail Extends Declines Following CEO’s Discount Share Sale
- YACHT IM : KKCG Maritime Raises Bid for Ferretti to €3.90/Share
- FLOW NA : Flow Traders 1Q Positively Impacted by Volatility, Volumes
- GET FP : Eiffage Boosts Stake in Getlink to 29.40%
- GOOGL US : Google: Users Can Bring Memory From Other AI Apps to Gemini
- HBR LN : Harbour Energy Holder Offers ~60m Shares: Terms, placed @ 273p:share
- HTZ US : Hertz, Avis Soar as Rental Demand Surges on Airport Chaos
- IBAB BB : Ion Beam Sees 2026 Adjusted Ebit at Least EU32M
- JUN3 GY : Jungheinrich Sees 2026 Ebit EU380M to EU450M, Est. EU421.5M
- JUN3 GY : Jungheinrich to Propose Andreas Umbach as New Board Chairman
- MA US : Mastercard Seeks to Sell Real-Time Payments Unit: FT
- MRL SM : Merlin’s Share Sale Over 10 Times Covered, Excluding Anchors
- NETC DC :Netcompany Boosts FY Adjusted Ebitda Margin Forecast
- NFLX US : Netflix Raises Subscription Prices By as Much as $2 a Month
- NOVOB DC : Novo Nordisk Says Awiqli Approved by US FDA
- NOVOB DC : Ozempic Maker Says AI Agents Are Shortening Its Clinical Trials - The Information
- Open AI : OpenAI Surpasses $100 Million Annualized Revenue From Ads Pilot, The revenue milestone comes six weeks after the ads pilot was announced. The Information
- Orbital Data Center IPO : Orbital Data-Center Startup Aetherflux Raising New Financing at $2 Billion Valuation -- WSJ
- RI FP : Pernod Said to Weigh Deal for Jack Daniel’s Maker Brown-Forman
- RI FP : Pernod Said to Weigh Deal for Jack Daniel’s Maker Brown-Forman
- PHARM NA : Pharming Group Gets Positive Opinion for Joenja Leniolisib in EU
- GLE FP : SocGen Cuts Some Backup Trading Floors to Allow Remote Work: FT
- SOF BB : Sofina FY Net Asset Value per Share EU305.77
- Space X IPO : SpaceX IPO Could Reserve Up To 30% for Retail Investors: Reuters
- SBUX SS : Starbucks’ Niccol Hasn’t Repeated Chipotle Stock Magic
- MSTR US : Saylor Says Retail Owns 80% of Strategy’s High Yield Securities
- TMV GY : TeamViewer unveils AI-driven Tia Reporting at Gartner Digital Workplace Summit
- TTE FP : Total to Avoid Force Majeure on Gas Deals Despite Gulf Turmoil
- TUI1 GY : Germany's TUI Names New Operations Chief
- WUW GY : W&W Sees 2026 Net Income EU120M to EU150M
- YUBICO SS : Yubico Publishes 1Q After Information Disclosed; Shares Fall