20 Jun 2025, 08:40 GMT+2 A look at today's session on European and global markets by Stella Qiu US President Donald Trump has stated that we may have to wait another two weeks before he decides whether to launch an attack against Iran. Meanwhile, financial markets are catching their breath, while remaining defensive in the face of developments in the Middle Eastern conflict. Brent crude prices are down by as much as 2.5%, but are still on track to record a third consecutive positive weekly performance with a gain of just under 4% compared to last Friday's close. The correction in crude oil is supporting European stock markets, as indicated by EUROSTOXX 50 futures FESX1! up 0.7% and FTSE futures up 0.3%. In contrast, Nasdaq and S&P 500 derivatives are down by about 0.2%.
The correction in crude oil supports European stock prices, as indicated by the EUROSTOXX 50 futures up 0.7% and the FTSE futures up 0.3%. In contrast, Nasdaq and S&P 500 derivatives are down by about 0.2% ES1!. Among analysts, some point out that the deadline of just over two weeks indicated by Trump for other key decisions such as tariffs raises hopes that in that time frame Tehran will return to the negotiating table on nuclear issues. Asia-Pacific stock markets were mixed: the Japanese and Australian markets were down, while Shanghai was positive. Seoul performed very well, where the benchmark KOSPI jumped 1.1% to surpass the 3,000 mark for the first time since early 2022. Newly elected president Lee Jae Myung announced a spending plan aimed at stimulating growth.
Contrasting Asia-Pacific stock markets: the Japanese and Australian exchanges are down, while Shanghai is positive. Seoul performed very well, where the benchmark KOSPI jumps 1.1% to surpass the 3,000 mark for the first time since early 2022. The newly elected president Lee Jae Myung has announced a spending plan aimed at stimulating growth. Dollar on the defensive, but still set for a weekly gain of about 0.5% thanks to safe-haven flows spurred by the conflict in the Middle East. However, a single positive weekly performance should not reverse the overall bearish trend of the US currency. China today kept its benchmark rates unchanged, as widely expected, while Japanese data show 'core' inflation at its highest in over two years, keeping pressure on the Bank of Japan for another rate hike, which is not expected before December. In the past twenty-four hours, 'dovish' signals have come from several European central banks, including Norway's, which surprisingly enacted its first rate cut since 2020. The Swiss central bank also cut rates, bringing them to zero and not ruling out moving into negative territory. The Bank of England, on the other hand, has remained in its position, though it still sees the need for further easing.
Thomson ReutersHow interest rates have changed among G10 central banks
Events that could influence the markets today: - Germany, producer prices May - UK, retail sales May - ECB economic bulletin
Thomson ReutersHow interest rates have changed among G10 central banks
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