Market Wrap: Peace Rumours and Disappointing Earnings

Market Overview

European indices are experiencing moderate gains, with most staying within a 1% range. The DAX is leading the pack with futures up approximately 0.9%, while the CAC40 is down more than 0.5%.

Key News Highlights

• The German aviation lobby has appealed to European authorities to release emergency jet-fuel reserves to address current shortages.
• Sources indicate that peace talks between Iran and the US are progressing, with an agreement reportedly "close."
• The European Commission has allocated €180 million to develop European cloud infrastructure.

Macroeconomic Data

Data released during the session shows that the euro area trade balance has risen to €11.5 billion, returning to its average following a seasonal decline in March.

Company News

• Uber has increased its stake in Delivery Hero, resulting in a 2% rise in shares.
• Hensoldt received a positive investment recommendation, leading to a 1% gain in shares.
• Ericsson reported weak sales and profitability below market expectations, causing shares to fall over 6%.
• Alstom has withdrawn its cash-flow forecasts and targets, leading to a significant plunge of about 30% in its stock price.
• Traton, Deutsche Bahn, Daimler, DAF, Iveco, and Volvo have concluded court proceedings related to price-fixing from 1997 to 2011, resulting in a total payment of €3.5 billion.

Commodities

Market sentiment regarding peace in Iran has led to a decline in oil prices, with Brent crude falling over 7% to around $90 per barrel, while WTI dropped below $90, reaching $87 per barrel.