TOKYO — Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after President Donald Trump said the United States has talked with Iran about a possible end to their war.
France’s CAC 40 gained 0.4% in early trading to 7,759.97, while the German DAX edged up 0.2% to 22,695.54. Britain’s FTSE 100 inched up less than 0.1% to 9,899.12. U.S. shares were set to be little changed, with Dow futures up less than 0.1% at 46,536.00. S&P 500 futures were also virtually unchanged, declining less than 0.1% to 6,634.50.
In Asia, Japan’s benchmark Nikkei 225 added 1.4% to finish at 52,252.28, recovering some of the losses it suffered the previous day.
Toyota Motor Corp.’s stock price gained 0.6% after it announced overnight that it was investing $1 billion in its Kentucky and Indiana auto plants. That’s part of a plan to invest up to $10 billion in the U.S. over the next five years that the Japanese automaker announced in November. Japanese manufacturers have been eager to show their contribution to American jobs and economic growth.
Australia’s S&P/ASX 200 rose 0.2% to 8,379.40. South Korea’s Kospi edged up 2.7% to 5,553.92. Hong Kong’s Hang Seng jumped 2.8% to 25,063.71, while the Shanghai Composite added 1.8% to 3,881.28.
Energy fallout from Iran war signals a global wake-up call for renewable energy
Global markets have been on a roller-coaster ride over worries about the war in Iran, which began in late February, especially nations in Asia, which are severely affected by any lack of access to the Strait of Hormuz, crucial for energy shipments from the Middle East.
In energy trading, benchmark U.S. crude gained $1.34 to $89.47 a barrel. Brent crude the international standard, added $1.00 to $100.94 a barrel, reversing course after easing overnight on Wall Street. That came after Trump said the U.S. and Iran held productive talks “regarding a complete and total resolution of our hostilities in the Middle East” over the last two days.
Iran denied such talks took place and Iranian parliament speaker Mohammad Bagher Qalibaf said that “fakenews is used to manipulate the financial and oil markets” in a post on X.
“Still, while there’s clearly a long way to go until some sort of ceasefire is agreed, and peace restored, we do at least seem to have taken the first step towards those ends.” said Michael Brown, senior research strategist at Pepperstone.
In currency trading, the U.S. dollar edged up to 158.55 Japanese yen from 158.35 yen. The euro cost $1.15941, down from $1.1610.
Source: AP
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