Less than two hours before the expiration of his own ultimatum, U.S. President Donald Trump agreed to a two-week ceasefire with Iran. The condition is that Iran lifts its blockade of the Strait of Hormuz, a critical waterway for oil shipments, Trump announced on his social media platform Truth Social. "However, the situation in the Middle East remains in limbo and euphoria should not become excessive," warned Andreas Lipkow, chief analyst at broker CMC Markets. "A sustainable peace in the region has not yet been negotiated; this is merely a pause in hostilities."
Among individual stocks, the largest gainers included shares from the banking, technology, and aviation sectors. In the MDax, Redcare Pharmacy stood out with a twelve percent jump following well-received financial results. Conversely, K+S shares tumbled by twelve percent. One trader noted that the fertilizer group had recently benefited from disrupted potash exports out of the Middle East.
(Report by Sanne Schimanski, edited by Ralf Banser. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for corporate and markets).)
