"The optimism that had been fired up on hopes that fresh talks could end the Iran conflict has begun to seep away. Stocks on Wall Street nudged fresh record levels as oil prices dipped back. But given the hurdles to cross, this could be interpreted as a dose of irrational exuberance."
"One of the sharpest moves came from French luxury group Hermès, whose shares fell 13% after the company reported a 6% decline in Middle East sales. The update reignited concerns that conflict-related disruptions are beginning to weigh on high-end consumer demand in key growth regions."
European equities traded cautiously, with the FTSE 100 losing early gains as risk sentiment weakened. Oil markets steadied around $95 a barrel, influenced by tentative optimism over potential peace negotiations involving Iran. The CAC 40 also slipped, particularly impacted by a 13% drop in Hermès shares due to a decline in Middle East sales. Barratt Redrow issued a cautious outlook amid rising costs and uncertainty in the housing sector. Standard Life Aberdeen confirmed a £2 billion acquisition of Aegon UK, reflecting ongoing consolidation in financial services.
Read at London Business News | Londonlovesbusiness.com
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