economy
European stocks end higher, defense shares tumble on Ukraine-Russia deal progress reports
Shares in Europe closed higher on Friday as the fragile ceasefire between the U.S. and Iran continues to test investors' nerves.
TL;DR
- European stocks rose on Friday, with most sectors and bourses in positive territory.
- Defense stocks fell sharply after Ukraine's negotiator suggested a resolution to the conflict could be near.
- Rheinmetall, Renk, Hensoldt, Saab, and BAE Systems all saw significant share price decreases.
- Optimism for a settlement in the Ukraine conflict was signaled by a key aide to President Zelenskiy.
- Israel agreed to negotiate with Lebanon, while Tehran cited violations of the U.S.-Iran ceasefire.
- Asian markets, including South Korea and Japan, rose overnight.
- Japan plans to release 20 days' worth of oil reserves from May.
- German inflation accelerated to 2.8% in March, driven by rising energy product prices.
- U.S. consumer price index rose 0.9% in March, pushing annual inflation to 3.3% due to oil prices.
- U.S. stock markets showed mixed results, with the Nasdaq gaining and the S&P 500 and Dow Jones falling slightly.