Commodity & Rate Reaction: Brent crude futures slipped 1.0% to $96.84 per barrel; Eurozone sovereign bond yields fell, easing inflation pressures and supporting expectations of a possible ECB rate hike later in the year.
Geopolitical Context: Israel and Lebanon agreed to extend a fragile cease‑fire, contingent on Hezbollah’s complete cessation of fire south of the Litani River. The United States, represented by President Donald Trump, signalled potential progress in US‑Iran talks; the US House passed a resolution to block further presidential involvement in the conflict.
Sector‑Specific Moves: AI‑driven demand highlighted by TSMC CEO’s comment on “runaway demand” for computing power; European chipmakers STMicroelectronics and ASML fell after Broadcom’s earnings guidance missed expectations. Remy Cointreau shares surged after its CEO outlined a plan to raise operating profit by €100 million by FY 2028/29 and double travel‑retail and emerging‑market sales as part of a three‑year turnaround.
