Squawk Box Europe Express

Nvidia notches another stellar quarter with revenue soaring by 85 per cent to more than $80bn. The chip giant has also announced the same amount in share buy-backs. CEO Jensen Huang tells our colleagues Stateside that demand in the new era of A.I. is ‘sky-high'. SpaceX files its prospectus ahead of what will be the biggest listing of all time on Wall Street. The company is eyeing future data centres to be built in space and a million-resident colony on Mars. In further IPO news, OpenAI is also reportedly aiming at a listing as soon as next week in what could be a trillion-dollar offering. Stakeholder Softbank sees shares soar in the Asian session as a result.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Fixed income continues to sell off across Europe which focuses investors' minds on UK April inflation. Crude prices slip on news that several tankers were able to exit the Strait of Hormuz. There are mixed messages from Washington with U.S. President Trump warning of renewed strikes on Iran but Vice-President JD Vance claiming progress was being made in talks with Tehran. In tech news, Google unveils its latest A.I. model in a bid to keep pace with competitors but today's attention turns to Nvidia which is expected to post a near-80 per cent boost in revenues when it reports after the bell today. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We are live in Paris at the G7 finance ministers' meeting where European Commissioner Valdis Dombrovskis tells us that Europe is facing a stagflationary shock amid the energy crisis while French finance minister Roland Lescure says lawmakers need to work to reassure bond markets. Crude prices fall slightly after U.S. President Trump says he postponed fresh strikes on Iran, citing diplomatic progress on ending the conflict with Iran. Elon Musk loses his case against OpenAI after jurors ruled the Tesla CEO had filed his suit too late to proceed. Musk had claimed the ChatGPT maker had violated an agreement to only run the AI start-up as a charitable non-profit organisation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bond markets around the world spike with the U.S. 10-year Treasury yield hitting its highest level in 15 months as inflation concerns persist. We are live in Paris where G7 finance ministers and central bank governors are meeting with the global sell-off set to dominate discussions. Crude oil prices rise once again after U.S. President Donald Trump warns Iran ‘the clock is ticking' over peace talks. We speak to Ryanair CFO Neil Sorahan who says that despite rising jet fuel costs the airline is well placed to avoid any dramatic summer travel scenarios. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump and President Xi conclude their two-day summit in Beijing with U.S. officials touting deals aimed at maintaining the two nations' trade truce. In the UK, Greater Manchester mayor Andy Burnham sets his sights on No.10 after the resignation of Health Secretary Wes Streeting. Sterling suffers its biggest drop in more than 3 months with gilts also set for losses. U.S. deep-learning A.I. company Cerebras shares soar on its Wall Street debut which launches a slew of A.I. companies' IPOs due later this year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese President Xi welcomes U.S. President Trump to an eagerly anticipated summit in Beijing with both leaders hailing a new chapter in bilateral relations for the world's two largest economies. UK Health Secretary Wes Streeting is reportedly planning to resign from his post and trigger a leadership contest against Prime Minister Sir Keir Starmer as soon as this morning. Conservative party leader Kemi Badenoch attacked the Prime Minister's handling of the crisis following yesterday's King's speech. In Washington D.C., the U.S. Senate confirms the appointment of Kevin Warsh as chairman of the Federal Reserve to succeed Jerome Powell.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Sir Keir Starmer survives another day in office after essentially challenging rivals to ‘put up or shut up' during a key Cabinet meeting. A potential contender for Starmer's job, Health Secretary Wes Streeting, is set to meet with the Prime Minister at Downing Street for talks ahead of the King's speech later this morning. President Trump is on his way to Beijing for a high-stakes summit with Chinese President Xi Jinping with an entourage of top business leaders in tow. U.S. CPI data reaches a three-year high which raises speculation whether the Federal Reserve will hike interest rates next year. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Sir Keir Starmer's leadership hangs by a thread with now more than 70 Labour MPs calling for him to resign following last Thursday's devastating local and regional election results. We hear from London Mayor Sadiq Khan who says a change of leadership at this point is not the answer to the government's problems. U.S. President Donald Trump rubbishes Tehran's response to American peace proposals and says a lasting ceasefire deal is in peril. As a result, European futures are in the red this morning and Wall Street remains largely flat as focus shifts to the U.S. inflation print – the last presided over by Federal Reserve Chairman Jerome Powell.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump dismisses the Iranian response to a U.S. peace proposal as ‘totally unacceptable'. Brent crude prices nudge past the $100-mark on the news. Beijing prepares to welcome President Trump on a two-day visit later this week with the agenda focusing on multiple topics including Iran, A.I. policy as well as trade and rare earth restrictions. UK Prime Minister Sir Keir Starmer is due to deliver a crucial address this morning as cabinet members weigh up their chances in a leadership challenge following last week's local and regional election losses for the Labour Party.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.K. stocks have dropped and gilt yields hold near multi-decade highs, after U.K. Prime Minister Keir Starmer and his Labour Party see bruising losses in local elections, with Farage's Reform UK making substantial gains. The U.S. and Iran exchange fire around the Strait of Hormuz, as Washington waits on a response to its proposal to end the war. But President Trump insists the latest incident does not violate the two sides' fragile ceasefire. Meanwhile Commerzbank ups its outlook as it looks to fend off UniCredit but gets a negative reaction in early trade. CEO Bettina Orlopp tells CNBC the German lender is worth more. And IAG warns of a hit to annual profit as the war in Iran sees jet fuel prices soar - shares of the British Airways owner are coming under pressure in early trade. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran says it is considering U.S. proposal to end the conflict as well reportedly begins talks to re-open the Strait of Hormuz and the future of its nuclear programme. President Trump is optimistic an agreement can be reached. European equities close more than two per cent higher on hopes of a peace deal while Wall Street sees fresh record highs. Meanwhile Asian markets continue the rally with the Nikkei leading gains following an extended national holiday in Japan. UK polls open with local, regional, Welsh and Scottish national parliament seats being contested. Investors eye UK gilts with yields at multi-year highs. Shell easily beats quarterly expectations, posting profits of $6.92bn versus expectations of $6.07bn. The oil major has warned of production impacts linked to the Middle East conflict.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump pauses the ‘Project Freedom' operation after revealing that progress has been achieved on a potential deal with Tehran to end the conflict. U.S. Secretary of State Marco Rubio says reopening the Strait of Hormuz is paramount, not military action. Equity markets respond positively to the news. In Asia, south Korea's KOSPI rallies by more than 7 per cent with A.I. and chips stocks leading the way. Novo Nordisk is up ahead of the market open and hikes its guidance. The Danish pharma giant's Wegovy weight-loss pill sales are up by more than DKK1bn. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S.-Iranian ceasefire agreement is in danger of falling apart after Tehran targets ships in the Strait of Hormuz. The flare-up sees the UAE also engage Iranian missile and drone fire. Unicredit hikes its guidance after delivering its highest quarterly profit ever. Investor focus is now on the Italian lender's tender off for Commerzbank due from 11am today. CEO Andrea Orcel tells CNBC he has made his intentions clear to Commerzbank shareholders. HSBC Q1 profit comes in relatively flat at $9.4bn, saying it expects credit losses. However CFO Pam Kaur tells CNBC she remains unfazed by the nature of the bank's credit trends. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump pledges to help guide stranded tankers through the Strait of Hormuz, using as many as 15,000 troops and 100 aircraft. The European Commission is mulling a response after President Trump threatened to hike tariffs on European cars to 25 per cent after accusing the bloc of non-compliance with the trade deal struck last July. European leaders arrive in Yerevan, Armenia for the latest European Political Community summit. UK Prime Minister Keir Starmer is set to discuss plans for the country to join the EU's $90bn loan scheme to Ukraine.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Both the ECB and the BoE decided to hold interest rates steady but warn that a June hike could be on the cards should inflation pressures connected to the Iran crisis escalate. The S&P 500 and Nasdaq notch their strongest month for six years as investors look beyond the Middle East and bet on Big Tech's A.I. progression. Apple shares are up in after-hours trade following a top and bottom line beat for the quarter. And Brent recedes back from its four-year high but remains well above the $100-mark following comments from President Trump vowing to maintain the U.S. blockade of the Strait of Hormuz.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Brent crude oil hits a war-time record of more than $123 per barrel after Axios reports U.S. President Trump is to be briefed on potential further strikes on Iran after rejecting Tehran's offer to re-open the Strait of Hormuz. The ECB and BoE are both expected to hold rates steady later today, following on from the Federal Reserve's decision to keep rates steady. Chairman Jerome Powell is likely to have held his final FOMC meeting which saw the highest level of dissent since 1992. U.S. futures are in the red but eh Nasdaq celebrates Big Tech earnings. Meta, however, hikes its capex guidance once more, planning an A.I. spending spree and reports its first-ever quarterly fall in active users. European equities will also start the day on the back foot with the FTSE spared the worst of the sell-off due to the rise in oil prices.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Two of Europe's key lenders enjoy stellar quarterly results on the back of market volatility. Deutsche Bank hikes revenue guidance after record profits while UBS notches a profit increase of 80 per cent to $3bn. CEO Sergio Ermotti said the Iranian conflict has not materially shifted client flows. The UAE shocks energy markets by announcing it is quitting Opec to free itself to ramp up production. However, energy minister Suhail Al Mazrouei tells CNBC that the country is committed to maintaining balanced oil markets.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump voices displeasure at Iran's proposal to postpone nuclear talks until after the conflict ends. Meanwhile, German Chancellor Friedrich Merz slams U.S. strategic aims in Iran. Swiss pharma giant Novartis misses quarterly sales targets, blaming generic drugs for its double-digit fall in operating profit. We hear from former NATO Secretary-General and currently Norwegian finance minister Jens Stoltenberg who says that while rising oil prices may have boosted his country's coffers, other sectors of the economy may suffer from falling exports. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump says Iran can pick up the phone after cancelling his envoys' negotiation trip to Pakistan. Axios reports Tehran is to table a new proposal to end the conflict and reopen the Strait of Hormuz should nuclear discussions be postponed. A gunman rushes a checkpoint at the Washington Hilton hosting the White House Correspondents' Association dinner, raising criticisms of President Trump's security arrangements. European futures are sanguine ahead of what's set to be a full week of blue chip earnings as well as five of the Mag Seven companies. Rate decisions from the Fed, BoJ, ECB and BoE will also be in focus later this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump hails a three-week ceasefire extension between Israel and Lebanon and that he is willing to wait until an appropriate deal is reached with Iran in order to re-open the Strait of Hormuz. EU leaders meet at an informal summit in Cyprus for a second day with the Gulf crisis, energy security and the bloc's budget top of the agenda. Leaders also celebrated agreement on Ukraine's €90bn loan. Siemens Energy hikes guidance while software giant SAP notches a Q1 beat but warned that cloud growth was dependent on geo-political events in the Middle East.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nestlé and Heineken both post Q1 earnings beats with LSEG and Roche results out today as well. Tesla also beats in the first quarter however it misses its revenue target and hikes capex expenditure. CEO Elon Musk says his latest mass chip-building project, Terafab, will use Intel's latest technology, pushing the company's shares higher in after-hours trade. European futures are firmly in the red, following Asian market moves despite another record session Stateside. Iran seizes two more ships in the Strait of Hormuz, dashing hopes of further peace talks. Oil prices move up, with Brent once again over the $100-mark. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Trump extends the ceasefire with Iran in order to allow for further peace talks to be organised. However, the Strait of Hormuz remains blockaded by both sides with global markets in limbo. Federal Reserve Chair nominee Kevin Warsh insists he has made no promises to President Trump on rate cuts and will remain an ‘independent actor' on future decisions should he be confirmed. The UK's March CPI is 3.3 per cent higher on the year, up from February's 3 per cent inflation figure.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple CEO Tim Cook steps down from the role with hardware chief John Ternus chosen to assume the helm from September. Cook, who oversaw a $3.6tn increase in the company's market cap during his 15-year tenure will become executive chairman. Iran is reportedly due to send a delegation team to Pakistan for a second round of peace talks. The news lifts Asian equities and pushes crude prices down. European futures are also in the green ahead of today's session. UK Prime Minister Keir Starmer insists he was unaware of Peter Mandleson's failure to pass an enhanced vetting procedure during a two-and-a-half-hour session in Parliament. The sacked foreign office chief, Olly Robbins, will face MPs on the recommendation later today. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Navy fires on and seizes an Iranian cargo vessel in the Gulf of Oman with both countries reinstating blockades through the Strait of Hormuz. President Trump says his delegation lead by Steve Witkoff and Jared Kushner are en route to Pakistan for further peace talks but Tehran says it will not be attending. The U.S.-Iranian ceasefire is due to expire tomorrow. Crude prices surge as prospects of a lasting peace arrangement fade. European futures are in the red with the Dax down by more than 1.5 per cent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A 10-day ceasefire between Israel and Lebanon comes into effect. U.S. President Trump says he sees the conflict with Iran ending soon. Bank of Israel governor Amir Yaron tells CNBC that he expects a deal to be done but maintains it is a ‘working assumption'. Investor hopes of peace in the Middle East rise with equities notching new record highs Stateside. The Nasdaq is on course to post its best week in a year while European bourses remain mixed. Spanish deputy PM Carlos Cuerpo tells CNBC at the IMF Spring Meetings he has no regrets over his country's refusal to become involved in the Iran conflict while Banque de France governor François Villeroy de Galhau insists that the ECB must not act rashly on rates ahead of a crucial meeting in a fortnight.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 and Nasdaq post new record highs as investors signal hopes for an end to the ran conflict. The positive sentiment has also affected Asian equities with the Nikkei leading gains. The U.S. and Iran are expected to resume peace talks in Pakistan next week with Israeli and Lebanese leaders set for ceasefire discussions later today. We hear from a slew of European policy makers at the IMF Spring Meetings about the risks of a prolonged conflict. French finance minister Roland Lescure and Bundesbank governor Joachim Nagel tell CNBC they must remain flexible to rolling developments. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Trump says peace talks with the Iranian regime could resume in Pakistan within days. Speaking to CNBC at the IMF spring meetings, Pakistani finance minister Muhammed Aurangzeb said he was optimistic for a diplomatic solution to the crisis. The IMF has slashed its global growth forecast outlining three scenarios – weaker, worse or severe. IMF chief economist Pierre-Olivier Gourinchas tells CNBC that even the best outcome would feature a ‘very significant downgrade'. Chip maker ASML hikes it FY sales guidance to €40bn on strong A.I. demand. Luxury giant Kering posts a narrow Q1 miss due to weaker Gucci sales and faltering demand in the Middle East. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. navy begins its blockade of Iranian ports in the Strait of Hormuz. However, there are signs of further dialogue which have helped crude prices to drop back under $100 per barrel. President Trump says the “appropriate people” in Tehran have communicated that they want to strike a deal. The optimism is felt on Wall Street with the S&P 500 erasing its losses since the start of the conflict while Asian equities are also in the green overnight. In luxury news, LVMH sales miss quarterly expectations as the Iran crisis weighs. The firm's U.S. shares closed 3 per cent in the red.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Following failed U.S.-Iran peace talks in Islamabad over the weekend, Washington moves to blockade ships exiting or entering Iranian ports in the Strait of Hormuz. Oil prices surge on the news while Asian markets move into the red. President Trump says the blockade is aimed at eliminating Iranian crude exports from the market. Hungarian Prime Minister Viktor Orban is ousted after 16 years in power with Peter Magyar's centre-right Tisza party winning a two-thirds super majority vote.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Trump accuses Tehran of not honouring the ceasefire with the Strait of Hormuz remaining firmly shut. Israel has said it was willing to hold peace talks with Lebanon, despite continuing to target Hezbollah sites in the country. Crude prices remain below the $100-mark despite Saudi Arabia claiming Iranian attacks on its Red Sea pipeline have erased up to 700,000 barrels a day from the market. European equities are due to end the week firmly in positive territory with investors clinging onto hope the Middle East ceasefire will hold. Stateside, the S&P 500 is on course to post its best weekly performance since November.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran accuses the U.S. of violating the new ceasefire agreed on Tuesday with Israel continuing to target Hezbollah sites in Lebanon. U.S. Vice-President JD Vance is to lead peace talks in Islamabad, Pakistan this weekend, saying early ceasefire ‘choppiness' is expected. Oil prices rebound from yesterday's relief rally optimism with Asian markets in the red. European futures are slightly negative. NATO Secretary General Mark Rutte is hosted by President Trump at the White House who voices his frustration with the alliance's lack of support over action in Iran. Rutte said talks were ‘frank' but remained friendly. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump announces that the U.S. and Iran have agreed to a two-week ceasefire on the condition Tehran opens the Strait of Hormuz to commercial shipping. WTI and Brent sink back under the $100-mark as a result and the Kospi and Nikkei leading gains in Asian markets. The rally is due to extend in Europe and the U.S. with the Stoxx 50 and Nasdaq futures set for gains of 5 per cent and 3 per cent respectively. Israeli PM Benjamin Netanyahu supports the pause in hostilities in Iran but says the deal does not cover operations in Lebanon. We hear exclusively from Lebanese Economy Minister Amer Bisat who presses for a ‘sovereign-led ceasefire' for his country.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump has cranked up the pressure on the Iranian regime to strike a deal to reopen the Strait of Hormuz, threatening to target civilian and energy infrastructure should tonight's deadline not be met. Oil futures rise on the comments but European equities remain sanguine following the extended Easter trading break. We hear exclusively from Danone CEO Antoine de Saint-Affrique who says the food giant is entering a new phase of acquisitions following a wave of recent acquisitions including UK powdered food firm Huel. De Saint-Affrique told CNBC the company is looking to reinforce its brands in the face of potential war-related volatility. And the Artemis II crew flies deeper into space than any manned craft before, surveying the far side of the moon.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump addresses the nation and says the war in Iran is nearing its end but offers no hint of de-escalation, adding that the U.S. will continue to strike the country. Markets surge on the news with WTI and Brent nudging past $100 per barrel. Asian equities start today off in the red with European futures looking to follow suit. Trump also advises European allies to ‘build up delayed courage' to procure Gulf oil for themselves, insisting that the U.S. is wholly reliant on its own supply. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hopes of a de-escalation in the U.S.-Iran conflict help push all three Wall Street majors into the green with the Nikkei and Kospi leading Asian stocks gains. U.S. President Trump has indicated he is ready to finish the conflict in Iran with ‘two or three weeks' even without a deal on re-opening the Strait of Hormuz. However, Trump slammed NATO allies for refusing to provide aid in the conflict. He criticised France for blocking airspace access to U.S. war planes and the UK was challenged to source some of its own oil from the Persian Gulf.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Brent is on course for its biggest monthly gain ever but has dipped overnight after a WSJ report that President Trump could be willing to halt the conflict without reopening the Strait of Hormuz by force. Iran strikes a fully laden Kuwaiti oil tanker. The White House says that Trump is still willing to strike a deal with the Iranian regime despite claims he could target energy infrastructure in the country. The Nasdaq is in correction territory following a turbulent session while the Stoxx 600 has suffered its worst monthly performance since March 2020. U.S. Federal Reserve Chairman Jerome Powell offers investors hope saying the central bank's rates policy is comfortable.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices continue to surge as the Iran conflict enters its fifth week. Brent is set for its largest monthly gain ever with the Strait of Hormuz still largely closed. Asian markets are selling off while European futures also point south. President Trump tells the FT he is eyeing Iran's oil reserves and has signalled he is willing to take over the vital export terminal of Kharg Island. However, he has also commented that a deal with Iran's leadership remains possible. Australia joins other nations to announce it will be cutting its fuel tax for three months to provide consumer relief.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump extends his deadline for attacks on Iran's energy infrastructure until April 6th, as talks reportedly continue. The US leader insists Tehran is desperate to end the war, even as it rejects the first US proposal. Oil prices ease and Asian stocks come well off session lows, as investors digest Trump's deadline extension and Iran's move to allow some tankers through the Strait. Futures in Europe and on Wall Street point higher, following Thursday's sell-off. Waiting on Rubio - the US Secretary of State is set to join his G7 peers in France for a second day of talks - as EU's foreign policy chief Kaja Kallas says Russia's involvement in Iran reflects how the conflicts in the Middle East and Ukraine are connected. Anthropic reportedly eyes an IPO as soon as October, as the AI player wins a preliminary injunction in its legal fight with the Department of Defence.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran says it is reviewing a U.S. ceasefire proposal but firmly denies President Trump's claims that talks are underway with Tehran desperate to strike a deal. Stocks fall and oil rises as investors reassess the odds of a ceasefire with former Goldman Sachs CEO Lloyd Blankfein telling CNBC investors should tread carefully. G7 foreign ministers arrive for a key summit in France, as conflicts in the Middle East and Ukraine dominate the agenda. NATO's Supreme Allied Commander for Transformation tells CNBC the military alliance is confronting new forms of warfare and urges Europe to take on a greater leadership role.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. government has reportedly provided Iran with a peace proposal even though Tehran continuously denies direct talks are happening. President Trump voices optimism that a deal can be struck. Oil prices fall as a result with Brent settling near the $100-mark while European and U.S. futures move to the green on hopes of de-escalation in the Gulf. Shell CEO Wael Sawan has warned that Europe could face potential fuel shortages by next month should the conflict continue while TotalEnergies CEO Patrick Pouyanné told CNBC at CERAWeek in Houston that refining margins are soaring to unprecedented levels.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran denies it is in negotiations with Washington as President Trump announces he has postponed airstrikes on critical power plants and energy facilities in the country for five days and claims a peace deal could be close. Oil prices rebound following an initial drop in the price of Brent to below $100 for the first time in almost a fortnight on the back of Trump's comments. US and European futures point south, giving back some of Monday's gains. Apollo Global caps withdrawals from a $25bn private credit fund after investors sought more than 11 per cent of the total following its first monthly loss in more than three years.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. and Iran trade threats with President Trump warning he will target power stations should the Strait of Hormuz not be reopened. The Iranian leadership has hit back saying it will target energy and water supply facilities in the Gulf. South Korea's KOSPI leads losses in Asia while European futures are in the read. Crude prices continue to rise with WTI surpassing the $100-mark once again. And precious metals are also on the decline with last week's gold price slide the largest in more than 30 years.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Israel continues to increase air strike on Iran overnight. Prime Minister Benjamin Netanyahu says the country's uranium enrichment capabilities have been destroyed but signals the possibility of a ground invasion. Central banks across Europe defer any possibility of rate cuts with the ECB and BoE warning that the Middle East conflict has blurred the inflation outlook and will push up energy prices. European Council leaders plead for warring parties in the Gulf to cease attacks on key energy facilities as Hungary vetoes a €90bn loan to Ukraine over halted oil shipments. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran strikes Qatar's main LNG facility – one of the world's biggest – following an Israeli attack on the giant South Pars gas field. President Trump has warned of stern intervention should retaliatory strikes continue. Equities in Europe are back in the red following a two-day winning streak. The Federal Reserve holds rates steady and signalling a single cut to come this year. Chairman Jerome Powell says it is too early to tell what impact the war in Iran could have on inflation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We hear exclusively from French finance minister Roland Lescure who says his country would be willing to aid the U.S. in securing the Strait of Hormuz but would require the conflict to de-escalate first. UK Chancellor of the Exchequer Rachel Reeves has warned the nation faces the possibility of higher inflation and borrowing costs due to the Iran war but tells CNBC it is on a far stronger footing today to absorb the shocks due to her fiscal reforms. Tehran fires a barrage of missile attacks at Tel Aviv following the killing of Iran's senior-most security chief Ali Larijani. In the U.S., top counter-terrorism director Joe Kent resigns over the decision to go to war. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump looks to postpone his China trip, saying his focus remains on the conflict in the Middle East. The U.S. leader also hits out at European allies after several reject his demand to help escort tankers through the Strait of Hormuz. And in markets, futures point to a day in the red on Wall Street, with Trump again calling on the Fed to cut rates ahead of its meeting starting today, after the Reserve Bank of Australia fires the starting gun on a week of central bank action by tightening policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump calls on allies to help secure the Strait of Hormuz with exports through the vital oil chokepoint remaining effectively halted, while European foreign policy chief Kaja Kallas criticizes the U.S. government's decision to lift some energy sanctions on Russia. Oil prices tick higher as the disruption continues, with traders looking to navigate price volatility. Investors look ahead to a massive week of central bank action, as lenders across the globe grapple with fallout from the conflict in the Middle East. Unicredit launches a bid to raise its stake in Commerzbank above the 30% level but says it doesn't want to take control of the German lender.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil settles about $100 per barrel for the first time since 2022 after Iran's new Supreme Leader Mojtaba Khamenei pledges to keep the Strait of Hormuz closed. U.S. Energy Secretary Chris Wright and Treasury Secretary Scott Bessent say the U.S. Navy will be helping to escort tankers out of the Gulf once military conditions are met. The U.S. government has sought to further ease prices by lifting sanctions on Russian oil already in transit. Russia's ambassador to the United Kingdom, Andrey Kelin, tells CNBC that Russia stands by Iran and that the U.S. and its allies are solely to blame for the Gulf crisis. Rate cut expectations are dampened as concerns over a prolonged conflict send the dollar and yields higher while equities fall into the red.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices have pulled back from $100 a barrel following several attacks on merchant vessels in the Gulf. Two tankers have been reportedly attacked overnight in Iraqi waters. The IEA announces its largest strategic reserve release of 400m barrels but energy markets remain wary. President Trump and the IEA's Fatih Birol vow to keep oil flowing. The White House launches a probe into several key trading partners including the EU and China which, under section 301, permit tariffs to counter unfair commerce practices. And in autos news, BMW enjoys a Q4 earnings beat despite tariffs affecting its FY guidance. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices swing after the White House says the U.S. Navy did not escort a tanker through the Strait of Hormuz. The denial corrected a now-deleted social media post by Energy Secretary Chris Wright. The IEA reportedly proposes the largest-ever release of oil reserves as the Iran conflict continues to restrict the movement of global supplies. In autos news, Porsche narrowly misses FY sales expectations and says it will now streamline itself, pivoting away from EVs and overhauling its product line-up. Meanwhile, Renault Group CEO, François Provost, tells CNBC he still believes electric cars are the future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump hails the war effort in Iran as ‘very complete' and has suggested some oil sanctions could be eased to shore up confidence in the market. However, Trump warned Iran could be struck even harder should it attempt to further disrupt supply. G7 energy ministers are set to discuss a potential release of strategic oil reserves. The U.S. is reportedly planning for up to 3-4 million barrels to be made jointly available. Aramco CEO Amin Nasser has warned of ‘catastrophic consequences' should the conflict continue to disrupt supply. And in autos news, Volkswagen falls short of FY sales expectations but predicts margin improvements in 2026.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.