While off their earlier opening gains, European markets were higher this afternoon as oil prices tumbled after the US and Iran reached a preliminary peace agreement that would open the Strait of Hormuz and end the three-month-long conflict in the Middle East.<\/p>\n
Global risk sentiment got a lift and Brent crude prices dropped 4% after US and Iranian officials said they had agreed on a framework for a deal, scheduled to be \u200csigned on Friday.<\/p>\n
The Paris CAC had gained 1.2%, while the Frankfurt DAX was up 1.4% in afternoon trade, but London’s FTSE index dipped 0.02%.<\/p>\n
Dublin’s ISEQ index advanced 1.2% this afternoo with Ryanair, Origin Enterprises, Kingspan and FBD Holdings all higher.<\/p>\n
Wall Street’s main indexes also opened with gains today after Washington and Tehran reached that preliminary agreement to end the Middle East conflict \u200cand reopen \u2060the Strait of Hormuz. <\/p>\n
Earlier in Asian trade, Japan’s Nikkei share average rallied 5% to close at an all-time high after news that the US and Iran had agreed on a framework for a deal to end their war, fuelling relief across markets.<\/p>\n
Japan, which depends on the region for about 95% of its oil imports, has seen the yen come under pressure and bond yields rise amid concerns that higher crude prices would lift import costs.<\/p>\n
The Bank of Japan will hold a two-day policy meeting ending tomorrow. It is widely expected to raise its policy rate to a 31-year high of 1% and signal its readiness to keep pushing up borrowing costs.<\/p>\n","protected":false},"excerpt":{"rendered":"While off their earlier opening gains, European markets were higher this afternoon as oil prices tumbled after the…\n","protected":false},"author":2,"featured_media":500961,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-500960","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/500960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=500960"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/500960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/500961"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=500960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=500960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=500960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}