- In the afternoon session, European indices are posting moderate gains, staying within 1%. The DAX is currently leading, with futures up around 0.9%. At the other end of the spectrum is the CAC40, down more than 0.5%.
- News
- The German aviation lobby is said to have appealed to European authorities to release emergency jet-fuel reserves to address shortages.
- Sources close to peace talks in Pakistan claim that an Iran–US agreement is “close.”
- The European Commission has allocated EUR 180 million to build European “cloud” infrastructure.
- Sources close to peace talks in Pakistan claim that an Iran–US agreement is “close.”
- The German aviation lobby is said to have appealed to European authorities to release emergency jet-fuel reserves to address shortages.
- Macroeconomic
- The amount of data is exceptionally limited during Friday’s session. The euro area trade balance rises to EUR 11.5 billion, returning close to its average after a seasonal decline in March.
- Company news
- Uber increases its stake in Delivery Hero; shares rise about 2%.
- Hensoldt receives a positive investment recommendation; shares gain 1%.
- Ericsson reports results: weak sales and profitability below market expectations are weighing on valuations; shares fall more than 6%.
- Alstom withdraws its cash-flow forecasts/targets; the stock plunges about 30%.
- Traton, Deutsche Bahn, Daimler, DAF, Iveco and Volvo have concluded court proceedings related to price-fixing between 1997 and 2011. The companies must pay a total of EUR 3.5 billion.
- Commodities
- A growing perception in the market that peace in Iran is becoming more realistic is allowing oil prices to test local lows.
- Brent falls more than 7%, stopping around $90 per barrel.
- WTI drops below $90, reaching $87 per barrel.
- A growing perception in the market that peace in Iran is becoming more realistic is allowing oil prices to test local lows.
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Daily summary: Rising oil pressures EURUSD, bull run on Wall Street continues