Premarket: Global stocks rise, oil drops on U.S.-Iran peace deal optimism
Global stock markets experienced an uptick on Monday, buoyed by optimism surrounding U.S.-Iran peace negotiations. Oil prices, however, fell significantly as expectations of a resolution increased. Analysts suggest that the potential reopening of the Strait of Hormuz could further influence oil prices and market dynamics.
- ▪Global shares rose with France’s CAC 40 up 1.1 percent and Germany’s DAX rising 1.0 percent.
- ▪U.S. President Trump indicated that negotiations with Iran are progressing positively.
- ▪Benchmark U.S. crude oil prices dropped over 4 percent to $91.83 a barrel.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountGlobal shares mostly rose Monday and oil prices sank more than US$4 after U.S. President Donald Trump said talks on ending the war with Iran are progressing.France’s CAC 40 edged up 1.1 per cent to 8,203.32, while the German DAX rose 1.0 per cent to 25,148.39. Britain’s FTSE 100 added 0.2 per cent to 10,466.26. Trading will be closed in the U.S. for the Memorial Day holiday.In Asia, Japan’s benchmark Nikkei 225 surged 2.9 per cent to finish at 65,158.19. Australia’s S&P/ASX 200 added 0.4 per cent to 8,692.00. The Shanghai Composite gained nearly 1 per cent to 4,152.57.
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