FINWIRES · TerminalLIVE
FINWIRES

US-Iran Ceasefire Hopes Lift European Bourses Midday

-- European bourses tracked higher midday Friday as traders weighed reports that US and Iran ceasefire negotiators will meet in Islamabad on Saturday.

Bank and tech stocks led gains on continental trading floors, while oil shares lagged.

Front-month North Sea Brent crude-oil futures were up 0.1% at $96.05 a barrel.

Investors also eyed flat Wall Street futures amid higher closes overnight on Asian exchanges.

In other news, European airports could face jet-fuel shortages if the Strait of Hormuz is not reopened in three weeks, Financial Times reported, citing a Airports Council International letter to the European Union.

The pan-continental Stoxx Europe 600 Index was up 0.8% mid-session.

The Stoxx Europe 600 Technology Index was up 1.3%, and the Stoxx 600 Banks Index rose 1.8%.

The Stoxx Europe 600 Oil and Gas Index eased 0.8%, while the Stoxx 600 Europe Food and Beverage Index edged 0.9% higher.

The REITE, a European REIT index, gained 0.3%.

On the national market indexes, Germany's DAX was up 0.7%, and the FTSE 100 in London gained 0.4%. The CAC 40 in Paris was up 0.8%, and Spain's IBEX 35 lifted 0.7%.

Yields on benchmark 10-year German bonds were higher, near 3.03%.

The Euro Stoxx 50 volatility index was down 4.6% at 22.47, but still indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

Related Articles

Asia

Strike Energy Reports Smooth Progress at Western Australia Well; Shares Fall 4%

Strike Energy (ASX:STX) has safely cased the intermediate section of its Walyering West-1 exploration well at 2,596 meters and is continuing drilling at 2,670 meters within the Cattamarra coal measures, marking steady progress in its fully owned L23 license, according to a Thursday filing with the Australian bourse.The well is planned to be drilled to a total depth of around 3,639 meters to assess the reservoirs in the Cattamarra formation, followed by wireline logging operations, per the filing.Initial results are expected in early May, and if successful, the well will be cased and suspended for further testing, including possible production evaluation, the filing added.The company's shares fell 4% in recent Thursday trade.

$ASX:STX
Asia

Litian Pictures Raises HK$10 Million From Share Placement

Litian Pictures (HKG:9958) raised about HK$10.3 million in net proceeds from a placing of new shares under a general mandate, according to a Wednesday Hong Kong bourse filing.Shares of the film production company were down nearly 2% in late morning trade on Thursday.The company issued 68 million new shares at HK$0.156 each, representing about 13.6% of its enlarged share capital.Net proceeds will be used for general working capital for the group's existing business and are expected to be fully utilised by the end of the year, the company said.

$HKG:9958
Asia

Tovis' Net Attributable Income Jumps 77% in Q1; Shares Decline 4%

Tovis (KOSDAQ:051360) posted first-quarter net income attributable to shareholders of 16.05 billion won, up 77% from 9.07 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean display models manufacturer's sales jumped 10.4% year over year to 169.8 billion won from 153.8 billion won.Shares of Tovis rose more than 4% in recent trade.

$KOSDAQ:051360