Market Overview
At 03:35 ET (07:35 GMT) the FTSE 100 index climbed 0.42%, while Germany’s DAX rose 1.3% and France’s CAC 40 added 0.72%. The uplift was attributed to a third consecutive night without U.S. strikes on Iran and ongoing Iran‑Oman talks aimed at reopening the Strait of Hormuz, which eased fears of a broader Middle‑East conflict.
Commodity and Currency Movements
Crude oil prices fell sharply: WTI crude slipped 5.6% to $84.32 a barrel and Brent dropped 5.2% to $86.94, reflecting market relief from the pause in hostilities. Gold futures rose 0.84% to $4,104.95 and spot gold gained 1.2% to $4,102.82 as investors retained safe‑haven demand. The British pound firmed against the U.S. dollar, with GBP/USD up 0.16% at 1.3345.
Geopolitical Developments
The United States halted strikes on Iran for a third night after senior military officials advised President Trump that the campaign had “reached the limits of its effectiveness.” Admiral Bradley Cooper, the top U.S. commander in the region, conveyed that the target list was nearly exhausted. Iran’s army spokesperson Mohammad Akraminia announced that Tehran also paused its “retaliatory” attacks on U.S. allies, stating that the attacks had stopped two nights earlier. UN ambassador Mike Waltz, on NBC’s Meet the Press, said President Trump was keeping all options on the table but was not ruling out further action. Iranian state broadcaster IRIB reported that six vessels attempting to navigate an “illegal and unsafe” route in the southern Strait of Hormuz were intercepted; one vessel suffered an accident while the others turned back under what IRIB described as “decisive Iranian management.” Israeli Prime Minister Benjamin Netanyahu travelled to Washington for a meeting with President Trump on Tuesday, marking their seventh encounter since January 2025.
Corporate Updates
AstraZeneca plc beat second‑quarter profit forecasts and reaffirmed its 2026 outlook, citing strong demand for its cancer and cardiovascular drug portfolio. Vodafone Group plc raised its full‑year guidance after a robust start to the fiscal year and highlighted the positive impact of its Safaricom transaction. Cranswick plc reported higher first‑quarter revenue driven by strong volume growth in protein‑rich foods, while maintaining its full‑year outlook unchanged.
Summary of Key Figures
- FTSE 100: +0.42%
- WTI crude: –5.6% to $84.32/bbl
- Brent crude: –5.2% to $86.94/bbl
- Gold spot: +1.2% to $4,102.82
- GBP/USD: 1.3345 (+0.16%)
- AstraZeneca: Q2 profit beat, 2026 outlook reaffirmed
- Vodafone: Full‑year guidance upgraded
- Cranswick: Q1 revenue up, outlook unchanged