In corporate news, shares in Universal Music Group<\/a> were seen down 6% following reports that Pershing Square had sold its stake in the group, after two failed takeover attempts.<\/a> <\/p>\n UMG announced Thursday morning that it had repurchased over 14 million of its ordinary shares owned by various Pershing Square funds, worth 250 million euros ($289.9 million), as part of an existing 500 million euro buyback program. <\/p>\n The Wall Street Journal<\/a> reported that Bill Ackman’s hedge fund had sold its UMG stake worth over $1.5 billion at an estimated profit of $600 million. <\/p>\n Shares in French conglomerate Bollore<\/a> were also seen down 1.6%. The Bollore family, which owns a stake in UMG, last week urged the label to reject Pershing’s takeover offer on the basis that it undervalued the company.<\/p>\n Nokia<\/a> shares fell 7.7% early Thursday as tech stocks unwound across the globe, following several consecutive days of remarkable gains for the sector. <\/p>\n Meanwhile, tensions between Iran and the U.S. on Wednesday sent Asian stocks lower<\/a> overnight, and European equity markets look set to follow suit.<\/p>\n The Kuwait International Airport was struck by Iran early Wednesday, just a day after the U.S. Central Command said it had defeated multiple Iranian ballistic missiles and drones, as well as launching “self-defense strikes” on Qeshm Island in the Persian Gulf. This was in response to “attempted attacks” by Tehran, it said.<\/p>\n If necessary, Israel and the U.S. are prepared to strike Iran again, Israeli Prime Minister Benjamin Netanyahu told CNBC in an interview.<\/p>\n “Israel is ready and the U.S. forces are ready. I think Iran should take that into account. I think they are taking into account, but they’re playing with fire,” Netanyahu said.<\/p>\n Oil prices dipped slightly<\/a> on the news that Lebanon and Israel have \u200bagreed to \u200bthe implementation \u200bof a ceasefire<\/a>, according to a joint statement with the United States \u2060released \u200cby the State Department \u2060on Wednesday following negotiations in Washington.<\/p>\n The ceasefire is contingent on a complete cessation of \u200cfire from the Iran-aligned Hezbollah militia and the evacuation of all its \u200boperatives from the South Litani Sector, according to the statement. The two sides had \u2060agreed last month to a ceasefire, but \u200chostilities had continued.<\/p>\n West Texas Intermediate futures fell 0.5% to $95.49 on Thursday, while international benchmark Brent crude eased off by 0.6% to settle at $96.20 per barrel.<\/p>\n \u2014 CNBC’s Justina Lee and Reuters also contributed to this report.<\/p>\n![\"OECD:](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/06\/108315777-17804830001780482997-46323123346-1080pnbcnews.jpg\")
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