European Stocks Rise Amid Falling Oil Prices
European stocks opened higher on Tuesday (April 14), while oil prices fell by US$100 per barrel. This decline occurred as investors eyed signs of potential progress in negotiations between the United States and Iran.
A US official, quoted by Reuters, stated that there was forward momentum in Washington's talks with Tehran. Simultaneously, President Donald Trump also said that the White House had been in contact with Iranian officials.
However, market sentiment remained cautious after the United States imposed a new blockade on Iranian ports, adding to uncertainty over the escalation of the conflict. At 07:11 GMT, the Stoxx 600 rose 0.6%, Germany's DAX rose 1.0%, France's CAC 40 rose 0.4%, and the UK's FTSE 100 added 0.3%.
In Asia, European markets were supported by gains in regional stock indices, but focus quickly shifted to energy prices. Brent fell 1.5% to US$97.88 per barrel and WTI weakened 3.4% to US$95.78 per barrel, although both remain above pre-war levels. The International Energy Agency (IEA) warned that oil prices have not yet fully reflected the extent of the supply shock caused by the Iran war.
On the corporate side, LVMH (Dior's parent company) stated that the conflict in the Middle East has cut at least 1% of the group's total sales, dampening optimism for an early recovery in the luxury goods sector. The market is also awaiting Kering's earnings release, scheduled after the close of European trading today, which could provide further clues about the resilience of demand in the luxury segment. (asd)*
Source: Newsmaker.id
