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Global stock markets saw a general uptick on Monday, even as oil prices surged following President Donald Trump’s rejection of Iran’s peace terms.
Despite the ongoing conflict in the Middle East, Wall Street indices closed slightly higher, with analysts noting that investors are currently prioritising market momentum over geopolitical instability.
While London and Frankfurt posted gains, Paris fell due to a slump in luxury stocks following a bleak sector report.
The diplomatic stalemate between Washington and Tehran intensified supply concerns, as Trump labelled Iran’s demands “totally unacceptable.”
Iran has conditioned peace on the release of frozen assets and an end to port blockades. This friction caused Brent crude to jump nearly three per cent, settling at $104.21 a barrel.
However, some market experts believe Trump may avoid further escalation ahead of his critical summit with Chinese President Xi Jinping this week.
In Asia, performance was mixed; Tokyo shares dropped significantly after Nintendo issued a profit warning and announced price hikes for its upcoming console.
Conversely, Seoul and Shanghai saw strong gains fuelled by a tech rally and artificial intelligence optimism.
Overall, the market remains reactive to news concerning the Strait of Hormuz, yet high earnings in the technology sector continue to push many indices toward record levels.
