Against this backdrop, at the midday break, the CAC 40 is down 0.29% at 8,184 points, while Frankfurt's DAX 40 has slipped 0.15%. In London, the FTSE 100 has shed 0.59%, and the Euro Stoxx 50 is trading 0.13% lower.

Hopes for peace have taken another hit following reports from the Iranian Foreign Ministry that Washington has once again violated the ceasefire after strikes on a coastal city. In retaliation, Tehran targeted a U.S. base.

In the eyes of investors, this continued hostility—albeit at a lower intensity than prior to the April 7 ceasefire—is delaying negotiations and the approval of a peace agreement between the two parties.

Consequently, oil prices are trending upward again but remain well below 100 dollars per barrel. In New York, WTI is up 0.38% at 90.50 dollars, while in London, North Sea Brent has gained 1.37% to reach 94.14 dollars.

On the currency market, the euro remains stable against the greenback, trading at 1.1615 dollars.

Key data expected this afternoon

Investors will be focused on the United States, where a flurry of macroeconomic indicators is scheduled for release. Key highlights include the April Consumer Price Index, a revised estimate of first-quarter GDP, weekly jobless claims, and April new home sales.

Stocks in focus

In Paris, Soitec shares are soaring 19.13%, bringing its year-to-date gain to 693%. This comes despite the group reporting an annual loss for the 2025-2026 fiscal year, its first in a decade. Investors are primarily cheering the encouraging outlook provided by the semiconductor materials manufacturer.

In Soitec's wake, several peers in the sector are benefiting, notably STMicroelectronics, which is up 2.50%.

Also in positive territory, L'Oreal is climbing 0.97%, supported by Berenberg, which upgraded the stock from neutral to buy while raising its price target from 374 to 435 euros.

Conversely, other luxury sector stocks are in the red, weighed down by their exposure to the Middle East. LVMH, for instance, is down 1.81%.
Elsewhere in Europe, Bayer is shedding 2.52% as prosecutors seek to ban glyphosate in Brazil.