What is the story about?
World shares experienced an upward trend on Tuesday, reflecting gains in Wall Street, while oil prices decreased amid increasing expectations for renewed
negotiations between the U.S. and Iran regarding the ongoing Iran conflict. In early European trading, Britain's FTSE 100 increased by 0.1% to 10,591.45, France's CAC 40 rose by 0.6% to 8,285.37, and Germany's DAX gained 1% to 23,980.13.
Asian Markets Performance
Asian stock markets also showed positive results on Tuesday. Tokyo’s Nikkei 225 climbed by 2.4% to 57,877.39, while South Korea’s Kospi surged by 2.7% to 5,967.75, briefly exceeding 6,000 during intraday trading.Additionally, Hong Kong’s Hang Seng index increased by 0.8% to 25,872.32, and the Shanghai Composite index advanced by 1% to 4,026.63. Despite the overall gains, China reported disappointing export growth of 2.5% for March, marking the first month since the Iran conflict began. However, analysts remain optimistic that exports related to artificial intelligence and renewable energy will bolster overall export momentum throughout the year.
Australia’s S&P/ASX 200 saw a gain of 0.5%, while Taiwan’s Taiex rose by 2.4%.
US-Iran Negotiations
Investor sentiment remains hopeful for a de-escalation of the Iran conflict, which has persisted for seven weeks. Reports suggest that the U.S. and Iran are contemplating a second round of negotiations ahead of the expiration of a temporary ceasefire agreement next week. In a related development, the U.S. military initiated a blockade of Iranian ports on Monday, intensifying pressure on Tehran following inconclusive ceasefire discussions over the weekend.U.S. President Donald Trump indicated on Monday that the United States remains open to engaging with Tehran, stating, “I can tell you that we’ve been called by the other side,” although he did not provide additional details.
Oil Prices Decline
On Tuesday, oil prices continued to retreat from earlier highs. Brent crude, the international benchmark, fell by 0.4% to $98.93 per barrel after peaking at nearly $104 on Monday due to concerns over the Iran conflict and limited progress in ceasefire talks.Meanwhile, benchmark U.S. crude dropped by 2% to $97.09 per barrel. The ongoing global energy crisis, exacerbated by maritime traffic disruptions in the Strait of Hormuz—where approximately 20% of the world's oil is transported—has resulted in rising fuel prices and poses a risk of inflation in numerous countries, potentially impacting economic growth.
Wall Street Developments
Wall Street recorded gains on Monday, with the S&P 500 increasing by 1% to 6,886.24. The Dow Jones Industrial Average rose by 0.6% to 48,218.25, and the Nasdaq composite added 1.2% to 23,183.74. Despite this positive trend, shares of investment bank Goldman Sachs fell by 1.9% despite reporting better-than-expected quarterly profits.In other market activities, gold and silver prices saw increases on Tuesday, with gold rising by 0.8% to $4,806.20 per ounce and silver prices climbing by 2.9% to $77.82 per ounce.
The U.S. dollar depreciated to 158.86 Japanese yen from 159.45 yen, while the euro traded at $1.1793, an increase from $1.1759.
