A framework agreement between the US and Iran to end the Middle East war has triggered global market euphoria. Spain's Ibex 35 index reached an all-time high, and the Strait of Hormuz reopened, causing oil prices to drop and boosting sectors like tourism and banking.
The ASX is expected to continue its recent rally, with ASX 200 futures indicating a 0.4% gain. This optimism is driven by a strong Wall Street close, fueled by renewed hopes for a Middle East peace deal and the successful SpaceX IPO.
South Korea's special envoy Lee Kyung-chul urged greater efforts for peaceful Middle East conflict resolution at a UNSC meeting, emphasizing civilian protection, international law, and Seoul's 'SHINE' initiative.
US President Trump claims rapid progress in Middle East negotiations and brokering a halt to fighting between Israel and Hezbollah, despite Iran-linked media reporting Tehran suspended contact with Washington over Israel's expanding offensive in Lebanon. The UN expressed alarm over the escalation.
Iranian officials met in Doha for peace talks, seeking US commitments on asset unfreezing. Trump urged Qatar and Saudi Arabia to normalize ties with Israel, raising stakes for a potential Middle East peace deal.
The US and Iran are exploring a potential agreement to end the Middle East war, but significant disagreements persist on nuclear issues, the Strait of Hormuz, sanctions, and the conflict in Lebanon.
China and Pakistan celebrated 75 years of diplomatic ties, with leaders Xi Jinping and Shehbaz Sharif meeting to discuss Middle East peace. Sharif thanked China for supporting Pakistan's mediation efforts, referencing Xi's four-point plan for regional stability.
European stock markets opened higher on Monday, boosted by falling oil prices amid hopes for a peace deal to end the Middle East conflict. Paris, Frankfurt, and Milan saw gains as traders reacted to potential de-escalation in the Strait of Hormuz.
France's energy aid package, spanning three months, will not be revoked even if the war in the Middle East ends, stated Energy Minister Maud Bregon. The government is committed to supporting citizens and businesses through continued energy price impacts.
France's energy minister confirmed that government aid to combat rising energy prices will not be withdrawn, even if a peace deal is reached in the Middle East. The three-month aid package for individuals and businesses will be maintained.
Global markets showed caution despite positive news from the Middle East regarding a potential peace deal between the US and Iran. While tech stocks, boosted by Nvidia's earnings, closed the week strong, broader market enthusiasm was tempered. European and US stock markets saw modest gains, with bond yields also recovering from recent highs. Investors are awaiting further clarity on potential interest rate hikes by the Fed and ECB.
Iran has submitted a new peace proposal to end the Middle East war, mediated by Pakistan and shared with the US. While details are scarce, reports suggest concessions on Iran's nuclear program and oil sanctions. However, rhetoric remains defiant, and US-Israeli airstrikes continue in Lebanon.
Arab League Ambassador to Moscow Walid Hamid Shiltag stated Russia's role is vital for Middle East peace, citing its consistent support for regional causes like the Palestinian issue and President Putin's initiatives for safe zones.
China's Ambassador to Russia, Zhang Hanhui, states there are no winners in the Iran conflict, proposing a five-point initiative for immediate ceasefire, peace negotiations, and adherence to the UN Charter, aligning with Xi Jinping's four principles for Middle East peace.
Renewed hopes for Middle East peace drive Wall Street higher and oil down, with the ASX expected to rise again in response. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Safe transit through the strait of Hormuz will be ensured with US threats coming to an end and new procedures in place, the Revolutionary Guards’ navy said, according to state mediaJob vacancies in the UK bounced back in March but remained near a five-year low, and openings for graduates slumped more than a third.UK job vacancies showed signs of recovery in March, rising 3.74% month-on-month to 752,711 – the second monthly increase after an extended period of decline, according to the job matching platform Adzuna. Yet despite this tentative rebound, the overall picture remains tough for job seekers. Vacancies are still 13.60% lower than in March 2025, and the market remains near its weakest level since 2021.Like BP last week, these are unearned windfall profits driven by Trump’s war with Iran.Equinor now wants to cash in even more by developing the Rosebank oil field, which would be a terrible deal for the UK. This government must put the needs of the British public – for affordable energy and a safe climate – ahead of this Norwegian oil giant’s relentless pursuit of profit. Continue reading...
Pakistani Deputy Prime Minister Ishaq Dar and Iranian Foreign Minister Abbas Araghchi discussed regional stability and ongoing diplomatic mediation efforts between Iran and the United States during a recent telephone call.
Diplomatic efforts to resolve the Middle East conflict remain at a standstill as the US evaluates Iran's proposal to unblock the Strait of Hormuz. Meanwhile, fighting continues on the Lebanese front, and economic pressures mount in Iran.
The Russian leader noted that the Iranian people are fighting "courageously and heroically" for their sovereignty
Iran's Foreign Minister Abbas Araghchi is in Islamabad for diplomatic talks aimed at ending the Middle East war, following US President Donald Trump's decision to cancel his envoys' trip. Araghchi met with Pakistani officials and military chief General Asim Munir. Meanwhile, the Strait of Hormuz remains closed, significantly impacting energy markets. Israel has launched new strikes against Hezbollah in Lebanon, accusing the group of violating a ceasefire agreement.
South Korean stocks traded lower late Wednesday morning, with the KOSPI falling 0.29% to 6,370.03 after reaching a record high of 6,388.47 the previous day. Uncertainty over U.S.-Iran peace talks weighed on market sentiment, dragging down semiconductor and banking shares. Samsung Electronics slipped 0.68% and SK hynix dropped 0.98%, while KB Financial Group and Hana Financial Group declined 2.49% and 3.09% respectively. Defense stocks rallied, with Hanwha Aerospace up 1.51% and LIG D&A surging 10.89%.
Analysis examines China's diplomatic role in the Middle East, arguing that despite limited concrete peace achievements, Beijing's strategy advances its regional interests and differentiates it from the US. Since 2016, China has consistently called for ceasefires and negotiations in conflicts from Syria to Palestine, with the 2023 Saudi-Iran normalization as the sole exception. Following the US-Iran ceasefire, Xi Jinping proposed a four-point peace plan and criticized American policy as risking a 'law of the jungle' approach.
South Korea's KOSPI index reached a new intraday high of 6,361.17, surpassing its pre-Middle East crisis level from Feb. 26. The index rose nearly 2% as optimism around US-Iran peace talks, record Samsung earnings, and returning foreign investors boosted sentiment. Goldman Sachs raised its 12-month target to 8,000 points, while JPMorgan set a bull case of 8,500 points.
Islamabad has seized chance to act as mediator in Iran war and hopes to reap diplomatic and economic benefitsMiddle East crisis – live updatesAs Pakistan works frantically to narrow differences between Iran and the US in its newfound role as global peacemaker, it is also seeking to recast its diplomatic standing and attract business.Pakistani officials, mediating between an unpredictable US president and hardliners in Tehran, were on Monday trying to coax both sides to put the conditions in place for a second round of talks in Islamabad this week, including easing the standoff in the strait of Hormuz. Pakistan was optimistic that the meeting would happen, viewing objections voiced by the Iranian side and Donald Trump’s threats as posturing for domestic audiences. Continue reading...
