Donald Trump has announced an extension of the ceasefire between the United States and Iran, citing an internal political situation in Tehran deemed "severely fractured." Originally scheduled to end this Wednesday, the truce will remain in place provided that Iranian authorities present Washington with a concrete and acceptable proposal to end the conflict.

The U.S. President specified that this extension followed a request from Pakistani authorities, notably Field Marshal Asim Munir and Prime Minister Shehbaz Sharif.

UN Chief Antonio Guterres welcomed the U.S. President's announcement regarding the ceasefire, hailing it as an "important step toward de-escalation," according to a statement from his spokesperson.

Pakistani Prime Minister Shehbaz Sharif expressed hope that both parties would succeed in "concluding a 'peace agreement' during the second round of negotiations scheduled in Islamabad."

While the truce between Washington and Tehran has been extended, the U.S. President is nevertheless maintaining the blockade of Iranian ports.

Furthermore, POTUS stated on his Truth Social network that "Iran is collapsing financially because of the closure of the Strait of Hormuz." "The country is demanding the immediate opening of the Strait of Hormuz and is desperately short of cash! It is losing 500 million dollars a day. The military and police are complaining about not being paid. SOS!!!", the American head of state posted, just hours after deciding to extend the truce.

Meanwhile, the United Kingdom is hosting military representatives from some thirty countries on Wednesday and Thursday to prepare for the reopening of the Strait of Hormuz. The objective of the meeting is to form a mission to protect navigation in the strait once peace is established, under the leadership of London and Paris.

Against this persistently heavy geopolitical backdrop, oil prices continue to rise. Brent crude is up 0.41% at 99.47 USD, while WTI is advancing 0.44% to 90.45 USD.

A flurry of earnings reports

In corporate news, numerous giants presented their first-quarter 2026 revenue figures yesterday and this morning.
Eurofins Scientific is posting one of the sharpest declines on the CAC 40 this morning, tumbling 10.52% following its trading update. Over the period, the global bio-analytical services specialist generated revenue of 1.789 billion euros, up 1.3% compared to the first three months of 2025. However, the group confirmed its annual targets despite disappointing sales. It is notably targeting organic growth of around 5% for the year, with an adjusted EBITDA margin expected to trend toward its 2027 target and exceed the 22.5% recorded in fiscal year 2025.

Bureau Veritas (-11%) is the biggest laggard on both the CAC 40 and the SBF 120, following a downward revision of its 2026 targets and a slight dip in first-quarter 2026 revenue. The group now anticipates moderate single-digit organic revenue growth (4-6%), compared to previous guidance of moderate-to-high single-digit organic growth (between 4-6% and 7-9%).

FDJ United is losing approximately 7%, marking one of the steepest declines on the SBF 120. The gambling operator is being penalized by a revision of its 2026 guidance: a slight decline in revenue is now anticipated instead of an increase. The operator is pinning its hopes on the second half of the year to reverse the trend following a lackluster first quarter (sales down 3.2% to 895 million euros).

Interparfums is retreating 1.31% after an 8.5% drop in revenue to 215.5 million euros, falling short of analyst expectations which averaged 225 million euros.

In Europe, Salzgitter is gaining 1.08% in Frankfurt, supported by solid first-quarter 2026 results and an upgrade to its earnings targets for the current year. Yesterday, the German steel group published preliminary figures for the quarter, showing momentum significantly above market expectations. For the first three months of 2026, it recorded external revenue of 2.3 billion euros, stable compared to the first quarter of 2025.

Semiconductor specialist ASM International holds the top spot on the AEX 25, jumping nearly 8% after beating first-quarter expectations with revenue of 863 million euros. Management now expects an acceleration in the second quarter, targeting revenue of 980 million euros, driven by growing demand for advanced technologies.

It is followed by AkzoNobel (+4.5%). The maker of "Dulux" paints recorded a 7% increase in its first-quarter operating profit, excluding divestments in India. This performance is attributed to a strategy of price hikes and cost reductions.

TUI, however, is shedding 2.67%. The tour operator anticipates a marked recovery in profitability in the second quarter but has lowered its annual guidance due to geopolitical tensions in the Middle East. As a reminder, in 2025, the German group recorded an underlying EBIT of 1.413 billion euros and had previously targeted growth of 7% to 10% for this year. It is now targeting a 2026 underlying EBIT (at constant exchange rates) of between 1.1 billion euros and 1.4 billion euros.

On the statistical front, the UK inflation rate climbed to 3.3% year-on-year in March, up from 3% in February, the Office for National Statistics (ONS) announced on Wednesday, fueled by surging hydrocarbon prices amid the war in the Middle East.