According to market participants, a technical rebound during the day is conceivable. "If prices fall far enough, there will be buyers ready to step in," said Thomas Altmann of QC Partners. However, analysts do not expect any significant upward moves. The main source of nervousness is the nuclear talks between Iran and the United States in Oman. Despite agreeing on Muscat as the venue, the two sides remain far apart on key issues.
While Tehran's government wants to limit discussions strictly to its nuclear program, Washington is also insisting on talks about Iran's missile arsenal and its support for allied militias. The meeting is overshadowed by the threat of a military strike against Iran. The United States has already deployed several warships to the region. On the oil market, prices rose by more than one percent. Investors fear supply shortages, as an escalation of the conflict could disrupt oil shipments. About one fifth of global oil consumption is transported through the Strait of Hormuz, which lies between Oman and Iran. On the stock market, defense contractor Rheinmetall rebounded, gaining 1.8 percent.
In the MDax, shares in Bechtle plummeted by as much as 9.8 percent following the publication of its financial results.
(Report by: Daniela Pegna, edited by Sabine Ehrhardt. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economic affairs) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
