economy
European stocks close lower as Trump considers Iran peace proposal, UAE leaves OPEC
European shares closed lower on Tuesday as investors assessed the latest developments in the Iran war and a flurry of corporate earnings reports.
TL;DR
- European stocks closed down 0.3% as investors awaited news on Iran peace proposals and the UAE's exit from OPEC.
- Novartis reported first-quarter earnings with a drop in operating income, while BP's profits more than doubled, beating expectations.
- Barclays reported a pre-tax profit increase and announced a share buyback program, despite a credit-related hit.
- Airbus shares closed slightly higher after an update on its first-quarter performance.
- Investors are monitoring discussions between President Trump and his national security team regarding Iran's peace proposal.
- Bayer is seeking to end Roundup lawsuits at the U.S. Supreme Court, leading to a significant drop in its share price.
- Central banks, including the Fed, ECB, and Bank of England, are holding key meetings this week, with interest rates expected to remain unchanged for now.