Global markets remain suspended by the geopolitical situation.

Washington (AFP) – Global stock markets remained focused Thursday on the progress of peace negotiations in the Middle East, while digesting a new wave of corporate earnings results.

In Europe, Paris lost 0.14% and Milan 0.27%. London gained 0.29% and Frankfurt 0.36%. In Zurich, the SMI fell by 0.35%.

In New York, for the second consecutive session, the Nasdaq and the S&P 500 hit a record high at closing, gaining 0.36% to 24,102.70 points and 0.26% to 7,041.28 points respectively. The Dow Jones rose by 0.24%.

On Wall Street, “the momentum is on,” said Patrick O’Hare from Briefing.com. “And investors are pushing the movement to see how far they can go.”

According to the analyst, Wall Street is benefiting from “constructive signals” around the conflict in the Middle East, particularly through recent comments made by the American president.

Donald Trump stated Thursday that Iran had agreed to hand over its enriched uranium, one of his requirements for a deal with Tehran, and announced a ceasefire on the Lebanese front of the conflict.

“They have agreed to return the nuclear dust to us,” said the president at the White House, using the term he employs to refer to stocks of enriched uranium, adding: “There is a very good chance that we will reach an agreement.”

The Islamic Republic has not immediately confirmed this information, as negotiations are still ongoing under the mediation of Pakistan to organize a second round of talks after the failure of the first in Islamabad last weekend.

– Rising Oil Prices –

“Caution remains” regarding the situation in the Middle East, tempered however by Jose Torres from Interactive Brokers, citing the rise in oil prices on Thursday.

After remaining relatively stable at the beginning of the session, the price of a barrel of Brent crude for June delivery rose by 4.70% to $99.39.

Its American equivalent, the West Texas Intermediate (WTI) barrel for May delivery, rose by 3.72% to $94.69.

Moreover, the Strait of Hormuz, through which normally a fifth of the world’s crude oil passes, remains blocked by Tehran.

“In the physical oil market, (…) prices remain extremely high,” noted Stephen Schork from The Schork Group.

Even considering the barrels diverted through pipelines and the few ships that have passed through Hormuz, the loss of Gulf oil has reached “approximately 13 million barrels per day,” according to ING.

“If the war were to intensify again and the Strait of Hormuz remained closed for several months, prices would sharply rise again,” warned Arne Lohmann Rasmussen, analyst at Global Risk Management.

– Barry Callebaut plummets in Zurich, Tesco praised in London –

Another focus for markets is the ongoing results season on both sides of the Atlantic.

In Zurich, cacao supplier Barry Callebaut tumbled by over 15% after posting lower-than-expected results for the first half and revising its targets for the full year due to the rapid decline in cacao prices.

In London, Tesco, the leading British supermarket chain, announced an increase in profit for its 2025-2026 fiscal year but expressed concerns about the impact of the Middle East conflict on its current fiscal year results. Its stock rose by 4.13%.

In Paris, the French spirits group Pernod Ricard lost some ground (-0.54%) after results were affected by the conflict in the Middle East and amid negotiations for a merger with the American company Brown-Forman, owner of Jack Daniel’s whiskey.

On Wall Street, the American snack and beverage giant PepsiCo (+2.28%) reported a significant increase in first-quarter results, driven by strong beverage sales in its main market, North America.

AFP/RP