Markets

The FTSE MIB is currently trading higher, up +0.17% at €47,410.66, having touched a day high of €47,440.54. This modest uplift is primarily attributed to easing geopolitical tensions, particularly hopes for continued de-escalation in the Middle East, alongside rebounding oil prices which boosted energy stocks like Eni. Further contributing to the positive sentiment were gains in the defence sector, with Leonardo seeing its shares rise, and a significant jump from luxury goods company Brunello Cucinelli following a positive business update.

The CAC 40 is currently trading higher, up 0.24% at €8,265.48, having reached a day high of €8,271.40. This modest gain comes amidst a complex backdrop of geopolitical tensions, particularly concerning the fragile ceasefire hopes between the US and Iran, which are contributing to rising oil prices with Brent crude gaining 1.8% today. Mixed sectoral performance is evident, as gains in luxury and technology stocks are being offset by declines in energy and materials, while investors also await key US inflation data.

The IBEX 35 is trading marginally lower today, currently at €18,097.70, a decrease of 0.04%. The session has been primarily influenced by ongoing geopolitical tensions, particularly the fragile US-Iran ceasefire and its impact on oil prices, which edged higher following fresh attacks on Saudi energy infrastructure. While Spain's economy shows robust growth, risks remain from a prolonged Middle East conflict and its potential to drive higher energy prices, alongside the European Central Bank's cautious monetary policy stance.

The S&P 500 index closed higher in the last session, gaining 0.62% to finish at $6,824.66. This upward movement was primarily driven by optimism surrounding upcoming US-Iran peace talks, which followed a fragile ceasefire, alongside anticipation of strong earnings growth for the S&P 500 as the earnings season approaches. Despite the ceasefire, rising oil prices, fuelled by fresh attacks on Saudi energy infrastructure and concerns over the Strait of Hormuz, also played a role, while stable US 10-year Treasury yields provided a supportive backdrop. Investors are now looking ahead to the release of the latest US consumer inflation report next week.

The Nikkei 225 index closed up 1.84% at ¥56,924.11 in the last session, driven by easing geopolitical tensions and a strong earnings report from Fast Retailing. Hopes for a ceasefire between the US and Iran, alongside peace talks between Israel and Lebanon, positively impacted investor sentiment, while Fast Retailing, a major component, surged over 10% after raising its full-year profit expectations. Further contributing to the rise were an acceleration in Japan's producer prices and anticipation of a potential interest rate hike from the Bank of Japan later in April.