On Monday, concerns over a breakdown of the ceasefire between the U.S. and Iran intensified after the U.S. seized an Iranian cargo ship and Iran threatened retaliation. Furthermore, the government in Tehran rejected a new round of negotiations that Washington sought to initiate before the ceasefire expires on Tuesday. Nevertheless, the U.S. delegation is expected to arrive in the Pakistani capital, Islamabad, on Monday evening. Iran has once again closed the Strait of Hormuz since Saturday. Oil prices rebounded, and equity markets came under renewed pressure as market participants fear a prolonged disruption of shipping traffic in the Persian Gulf.
The consequences of the Middle East conflict, which could lead to interest rate hikes due to elevated inflation, are also a topic at the Association of German Private Banks (BdB) annual reception in Berlin. Speakers include ECB President Christine Lagarde. In this context, investors are also monitoring German producer price data for March, which serve as a leading indicator for consumer price trends. Additionally, representatives from airports and airlines are meeting at the Federal Ministry for Economic Affairs to discuss the implications of a potential kerosene shortage, while the Hannover Messe, the world's largest industrial trade fair, gets underway.
Closing levels of European Level
Equity Indices and
Futures on Friday
Dax 24,702.24
EuroStoxx50 6,057.71
EuroStoxx50 Future 6,001.00
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Closing levels of Level Change in
U.S. Indices on Friday Percent
Dow Jones 49,447.43 +1.8%
Nasdaq
S&P 500 7,126.06 +1.2%
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Asian Indices on Levels at 07:00 Change in
Monday CET Percent
Nikkei 58,928.99 +0.8%
Shanghai 4,078.39 +0.7%
Hang Seng 26,370.37 +0.8%
(Report by Sanne Schimanski and Anika Ross, edited by Christian Götz. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
