Markets show cautious optimism amid stalled US-Iran negotiations, with oil and equities reacting to geopolitical uncertainty.
European equities closed mixed as investors weighed stalled US-Iran talks and economic data. The DAX rose 0.6% while the CAC 40 gained 0.3%, though sentiment remained fragile amid geopolitical risks.
WTI crude climbed 1.1% to $97.50, retreating from earlier highs near $99, as reports of 35 vessels passing through the Strait of Hormuz eased supply concerns. The 10-year Treasury yield fell 3.3 bps to 4.55%, reflecting subdued rate-cut expectations after ECB officials signaled a likely June hike.
The USD held firm, with USD/JPY edging higher on yen weakness, while AUD and NZD lagged. Gold dipped 0.4% to $4,522, and Bitcoin slipped 0.4% to $77,342 as risk appetite remained tepid ahead of the weekend.