At around 5:00 PM GMT on the 33rd day of the Middle East conflict, here are the latest global economic developments:
Global stocks are banking on a quick end to the war World stock markets are benefiting from an optimistic wave on Wednesday following President Donald Trump’s statements suggesting an end to the Iran war within “two to three weeks.”
European stock exchanges closed significantly higher, with the Paris Stock Exchange up 2.10%, Frankfurt 2.73%, London 1.85%, and Milan soaring by 3.17%.
On Wall Street at 4:00 PM GMT, the Dow Jones gained 0.94%, Nasdaq rose by 1.62%, and the S&P 500 index increased by 1.10%.
The Brent crude oil from the North Sea remained down but crossed the $100 per barrel mark ($101.82, -2.07%). Its US equivalent WTI traded at $99.60 (-1.76%) around 4:00 PM GMT.
An important figure in French business is tasked with a mission on transportation The French Mediator for Enterprises is carrying out a mission in France concerning the transportation sector to ensure that, as part of the Middle East conflict, major order givers do not worsen the financial situation of small businesses due to “selfishness,” at the request of the ministers in charge of the economy, SMEs, energy, and transportation.
Fuel prices in France see a significant milestone The SP95-E10 fuel reached the symbolic €2 per liter mark in France on Wednesday, based on an average calculated by AFP using data from 7,289 service stations transmitted to the French government.
US strategic oil reserve decreases as commercial stocks rise Oil reserves were drawn from the US Strategic Petroleum Reserve for the first time since the start of the Middle East conflict last week, according to figures released Wednesday by the US Energy Information Administration (EIA). Commercial stocks also showed an increase.
Bank of England warns of financial stability threat due to Middle East conflict The economic shock caused by the Middle East conflict poses risks to the stability of the British financial system, warned the Bank of England (BoE) on Wednesday.
German economy faces setback due to Middle East conflict The energy shock from the Middle East conflict will “slow down” the recovery of the German economy, which will depend on additional public investments, warned the main German economic institutes on Wednesday.
UK to host international meeting to secure the Strait of Hormuz British Foreign Secretary Yvette Cooper will host a virtual meeting of representatives from about thirty countries to mobilize efforts to restore and ensure maritime security in the Strait of Hormuz once hostilities have ceased. British Prime Minister Keir Starmer declared the UK’s initiative to gather nations for maritime security in the Gulf during a morning press conference.
Published on April 1st at 7:16 PM by AFP.
